Space Exploration Technologies Corp. Class A Common StockSPCX
Mentioned
Impact on stocks 1
Space Economy
Space Exploration Technologies Corp. Class A Common StockSpace Exploration Technologies Corp. Class A Common StockShares of U.S. space exploration company SpaceX, which went public last month, have fallen below the IPO price, leaving short sellers with an estimated $8.7 billion in paper gains since the listing. According to data analytics firm Ortex Technologies, short sellers have been building bearish positions as the stock dropped from a post-listing high of $225.64 to around the $135 IPO price, and roughly 49% of the tradable free float is now out on loan. Ortex co-founder Peter Hillerberg noted that short sellers kept adding to their positions on the way down, and said the sizable short interest could further amplify volatility in the stock. SpaceX did not respond to a request for comment.