Svmuu News: Data from analytics firm Ortex Technologies as of Tuesday shows that since SpaceX (SPCX.O) went public in mid-June, investors who shorted SpaceX stock have realized approximately $15.5 billion in paper profits, as the stock price has fallen below its IPO price. Short sellers profit by borrowing shares to sell and then buying them back at a lower price. As SpaceX’s stock price fell from its post-IPO high of $225.64 to below the $135 IPO price, they increased their bearish bets on the company.
“There are currently no signs that short sellers are taking profits on their SpaceX positions,” said Peter Hillerberg, co-founder of Ortex. “If anything, they are actually increasing their short positions.” ” Hillerberg said. Data from Ortex as of Tuesday showed that approximately 360 million shares of SpaceX stock had been borrowed, accounting for about 56% of the shares outstanding. Musk said last Friday, “Companies that hold large short positions in SpaceX over the long term have a very low probability of survival.” (Jin Shi)