SpaceX CEO Elon Musk announced a plan to give one share of the company’s stock to every child in the United States next year. The initiative aims to promote aerospace education and broader equity ownership. It could bring more than 70 million new retail shareholders to the company.
SpaceX shares rose more than 1.5% in pre-market trading. They traded near $148.
The announcement comes ahead of the company’s third-quarter earnings report, expected on October 20. A significant insider share lock-up also expires this week, releasing a substantial number of shares into the market and potentially testing the stock’s recent resilience.