Quick Read – SPCX carries 196 million shares sold short, representing 31% of the float, with every $1 move costing bears roughly $200 million. – Shorts briefly pocketed $2.5 billion on paper when SPCX fell 23% post-IPO, but the rebound flipped that to a $760 million loss. – Act…
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Short sellers piled into SpaceX (NASDAQ:SPCX) faster than almost any newly public stock in recent memory, and the position is now enormous enough to matter to every long-term holder watching this thing settle. Roughly 31% of the free float, about 196 million shares, is sold short as of Tuesday, according to Ortex data reported by Reuters. That is the anchor number, and the arithmetic that flows from it is what makes the next few weeks interesting.
The 196 million share bet against SpaceX A week earlier, the short position looked ordinary for a hot IPO. Short interest sat at roughly 83 million shares, or about 13% of the free float, before more than doubling in a matter of days. Ortex co-founder Peter Hillerberg called the buildup “extraordinary for a stock that has been public less than a month.” Extraordinary is the right word for it.