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Everyone is focused on the unlock. Few are asking how much of the risk is already priced in. $SPCX has already dropped 15.4%, from 130 to 110, with sellers taking full control after earnings and leaving little room for a meaningful bounce. For bears, the key level is 100—about 9-10% below current prices. Could the unlock trigger more selling? Definitely. But unlocks alone don't guarantee a prolonged decline. A significant portion of the near-term risk may already be reflected in the price. If fundamentals remain strong and institutional demand starts to appear, buyers could return faster than expected. The unlock is a catalyst—not the whole story. #SPCX #DailyOrbit