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11. $SPCX doesn't need the unlock to be entirely bullish. It simply needs the unlock to be less bearish than the market expects. If earnings are strong at the same time, sentiment could shift quickly. But I wouldn't say the negative pressure has fully ended. There are 910M shares to consider, and holders don't have to sell everything immediately. They can distribute over multiple days. That's where panic can build. The traders who bought above $120 because “I think it will be fine” are now the ones under pressure. I exited around 105 and still have a small short at 114. Watching closely.