SpaceX Shares Plunge to $118.25 Since IPO; Short-Sellers Accumulate $15.5B Unrealized Gains

According to Ortex, SpaceX shares have plunged to $118.25 on July 23, down from the $135 IPO price set in mid-June, with short-sellers accumulating $15.5 billion in unrealized profits. The stock surged to a peak of $225.64 on June 16 before retreating nearly 50 percent.

Ortex co-founder Peter Hillerberg noted that short positions have not closed and are expanding instead, with approximately 360 million shares borrowed for short selling, representing 56 percent of float. Additionally, insider lock-up expiration begins August 6, releasing 911.5 million shares, while the float is expected to surge from 639 million to 5.33 billion shares by early December.