Elon Musk has issued a warning to traders betting against SpaceX, stating on X that he tries to warn them but they just double down. Data from S3 Partners shows roughly 95% of SpaceX shares available to borrow have been loaned out, translating to 34% short interest as a percentage of the float. Short sellers have continued to increase their bets despite Musk's caution, with Ortex Technologies reporting that roughly 360 million shares, equal to 56% of the free float, were out on loan by late July, leaving short sellers with an estimated $15.5 billion in paper profits. Ortex co-founder Peter Hillerberg told Reuters there is no sign of short sellers taking profits, and they are leaning in harder. The enormous bearish wager could make SpaceX particularly volatile, as Ortex previously estimated that every $1 move in the stock represented more than $300 million for traders on the short side.
