New Delhi, Aug. 6 -- Shares of SpaceX rebounded 7% on Thursday, 6 August, rising to an intraday high of $115.75 as the stock recovered part of the steep losses from the previous session when the company's massive AI-related spending overshadowed an otherwise strong quarterly performance.

Despite the recovery, the stock remains well below both its post-listing peak and its IPO price.

Another key event for the stock on Thursday was the expiry of the lock-up restrictions, which made more than 911 million SpaceX shares, worth nearly $100 billion, eligible for trading. The restrictions had previously barred insiders from selling their holdings.

The first tranche of unlocked shares is around 40% larger than the number of shares sold in the c...