Why Did SpaceX Stock Drop After Starship's Successful Launch?

SpaceX shares fell about 0.93% to near $147.29 on Monday even after Starship reached orbit, deployed 26 Starlink V3 satellites, and splashed down intact in the Pacific. The drop appears driven by supply pressure: 328 million shares became eligible to trade after the post-IPO lockup expired Sept. 24, and President Gwynne Shotwell recently sold $52.5 million in shares. Analysts remain split, with MoffettNathanson at a $142 target versus an average target of $222.