Google has started paying SpaceX $920 million a month for access to about 110,000 Nvidia GPUs. The contract runs 33 months and totals roughly $30 billion. One write-up this morning works it out to about $2.27 in sales per share.
A second piece this morning covers a different ledger. The June IPO offered less than 5% of shares, and the insider unlock schedule is accelerated and staggered.
$SPCX is -3.79% at midday. Neither piece is a filing or a stated reason for today's tape, so I am not assigning one.
The two stories live in different places. The contract changes what the business collects. An unlock changes how many shares are free to look for a buyer. Sales per share does not move when a lockup expires. The float does.
A $30 billion customer pays SpaceX. It does not take anyone's unlocked shares off their hands.