SpaceX Short Interest Surpasses Tesla Ahead of Earnings and Lockup Expiration
Short interest in SpaceX has surpassed that of Tesla, reaching $23.6 billion compared to Tesla's $22 billion, according to S3 Partners data. This marks a significant shift as investors prepare for SpaceX’s first earnings report since its public listing and an upcoming insider lockup expiration set for Thursday. The short position now covers 32.2% of the publicly tradable float in SpaceX shares. SpaceX's short interest has grown rapidly from just 5-7% at IPO to over 30%, highlighting investor skepticism amid a steep decline in its stock price, which is down more than 50% since its June debut and has lost over $500 billion in market value. The first lockup expiration will unlock up to 20%-30% of previously restricted shares for sale, with further unlocks expected through October. Bernstein analysts note that the anticipated share dilution is deterring investors from buying SpaceX stock on fundamentals alone until at least December.
Topics: lockup expiration short selling SpaceX IPO performance stock float expansion