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SpaceX Stock Falls to $118.25 from $225.64 Peak; Short Sellers Gain $15.5B on July 23

GateNews
Stocks
SPCX2.61%
According to Reuters, SpaceX shares fell to $118.25 on July 23, down sharply from their peak of $225.64 four days after the IPO on June 16, according to Otex Technologies data. Short sellers have accumulated approximately $15.5 billion in unrealized gains. Peter Hillerberg, co-founder of Otex, noted that short sellers show no signs of taking profits and are instead increasing their bets. Currently, 56% of SpaceX's float shares (approximately 360 million shares) are borrowed. Additionally, lockup expiration on August 6 could release up to $116 billion in new supply to the market.
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