Brayden Dennis

And it really depends on the price of the shares.

It could be as high as 30 percent.

There is, I think, if it spends a certain amount of day above a certain price, there could be some more unlocking.

And the majority of the shares will be unlocked in the first six months following the IPO, with all of them being unlocked there.

including the ones that Elon owns a year after the IPO.

And you have to remember here, I think a lot of the pop that we're seeing is just, there's just an offer demand imbalance.

Right now, there's just not a lot in terms of offer, in terms of float that's available.

When you have less than 5% of the shares traded, you don't need that much demand to actually drive up the price of those shares.

And the question really is, once those lockup periods start opening up,

They start expiring.

You have probably the IPOs of OpenAI and Antropic around the same time period.

They're speculating that it could come in the fall, even as soon as September.

That could put a lot of pressure on the shares of SpaceX.

So I'm not overly surprised on the reaction right now.

That was always what I was thinking is short term.

You could definitely see a pretty significant pop, but it's where the medium term, I think, where my concerns are.

Yeah, it's probably a larger buyer.

That's why.

So they probably have a bit more flexibility than a Wealthsimple.

Exactly.