The lockup period is still in effect (for now) but reductions to index inclusion rules expose the stock to passive vehicles like ETFs that are obligated to have a specific allocation on the stock. So now there is an essentially guaranteed demand established by the time the lockup period expires. NASDAQ allows mega-cap companies into the NASDAQ-100 after 15 days which is much shorter than the lockup period for 80% of the SpaceX shares.

15 days - Pump: get into indexes -> ETFs obligated to buy shares

After - Dump: insiders cash out benefiting from the price premium of demand for shares from ETFs

They're solving that problem. Look at Spacex. They not only got the rules changed for fast-tracked inclusion in Nasdaq and Russell indexes to pump the price on their garbage asset, they changed the rules so insiders could bail early. It was a one-two punch in service of making insiders richer at the expense of retail investors. Transparent corruption, where a few billionaires write the rules that allow them to reach into regular folks pockets.

https://www.cnbc.com/2026/05/21/spacex-insiders-will-get-to-...

No. Look at the SpaceX lockup. It’s staggered with various groups getting ability to sell earlier than others. Well ahead of 6 months.