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I said it before: $SPCX hasn't reached its bottom yet. A month ago, I called for a 50% decline in $SPCX —and that move has now played out. My view remains the same: the bottom is likely still ahead. Starting August 11, the share unlocks begin, with roughly 20% of shares scheduled to become available. Keep in mind that only about 5% of the total share count is currently trading, so the increase in available supply could have a meaningful impact on price. My current downside target remains $85–$80. The setup reminds me of Tesla's post-IPO trading, where the stock found its low during the middle of the unlock period, consolidated for a while, and only then began its sustained uptrend. When my thesis changes and I make my first buy, I'll share it here. #CXMTMemoryIPO #FOMCRateWatch