SpaceX Draws $25 Billion in Short Bets as 185 Million Shares Reach 29% of Float
Updated
Updated · CNBC · Jul 16
SpaceX Draws $25 Billion in Short Bets as 185 Million Shares Reach 29% of Float
3 articles · Updated · CNBC · Jul 16
Summary
185 million SpaceX shares are now sold short—about 29% of the public float and roughly $25 billion in bearish wagers—up from about 40 million shares three weeks ago.
A 20% July slide has fueled that buildup, with the stock briefly falling below its $135 IPO price for the first time on Wednesday and trading near $131 on Thursday.
The pressure comes ahead of lockup expirations that could sharply expand supply: KeyBanc estimates about 11% of outstanding shares may become eligible for sale around second-quarter earnings, with additional 4% tranches starting around Day 70.
Only about 5% of SpaceX's roughly 13 billion shares were in the IPO float, leaving sentiment highly sensitive to future unlocks and to near-term catalysts such as Thursday's 13th Starship test flight.