There's a lot to unpack here, but a few thoughts. SpaceX wasn't added to the Nasdaq until two days ago, which is right around the time the stock was reaching it's current lows. Doesn't make sense to say that they prices exploded because of that.

Second, I don't know the details but it's extremely unlikely that most SpaceX folks have been able to sell any shares. Typically there's a 90–180 restricted window where pre-IPO holders are not allowed to sell.

The limited float could theoretically drive up, but as I noted, it wasn't added to the Nasdaq 100 until two days ago, so it's not something we can really attribute to that.

Btw, I loathe Elon Musk as a human, but am just clarifying some facts.

I didn't say that the prices exploded, I said that (according to the maybe dodgy experts who I read/heard) they were practically guaranteed to explode. And by explode, I mean go up. But if SpaceX was only added to the index two days ago, maybe that might still happen. According to the same experts, the stock sale restrictions for pre-IPO holders were also changed for SpaceX, but I don't remember the specifics...

All the investors knew that nasdaq and trackers would have to buy spacex and that number of shares traded is extremely limited. They might have bought earlier and planned to sell when the index crunch started?