Short positions in SpaceX (SPCX.US) stock have increased as the price drops, with short positions accounting for approximately 29% of the outstanding shares.

As the stock price of SpaceX (SPCX.US) continues to weaken, the bears are rapidly increasing their bets. The latest data shows that the current short position is close to 30% of the company's outstanding shares, with a short position size of about $25 billion. At the same time, the market is closely watching the upcoming stock unlock and the 13th test flight of the "Starship," which could be important catalysts affecting the stock price. According to data from S3 Partners, there are currently about 185 million shares of SpaceX stock sold short, accounting for approximately 29% of the company's outstanding shares, corresponding to a short position size of about $25 billion. By comparison, just three weeks ago, the short position in SpaceX stock was about 40 million shares, representing only about 5% to 7% of outstanding shares. This means that the short position has surged significantly in just a few weeks. Matthew Unterman, research director at S3 Partners, said that since SpaceX's IPO, short funds have continued to flow in, building speculative short positions. "Since the IPO, we have seen shorts continuously adding to their positions, and the bearish sentiment in the market continues to grow." The stock price of SpaceX was initially strong at the time of its IPO, but then showed a clear weakening trend. Data shows that the company's stock price has fallen by about 20% in July and on Wednesday, it broke below the IPO price of $135 for the first time, with the latest price on Thursday at around $131. One important reason behind the continued increase in short positions is that the market is approaching a period of stock unlock. According to KeyBanc Capital Markets, SpaceX only issued about 5% of its total shares in this IPO, and most of the approximately 13 billion shares already issued are still in a lock-up period. KeyBanc predicts that the first large-scale unlock may occur around the time the company announces its second quarter earnings, when about 11% of the issued shares will become eligible for sale. After that, starting around the 70th day post-IPO, the company will gradually unlock about 4% of the shares, and further unlocks will be scheduled based on performance and the third quarter earnings report. Currently, SpaceX founder Elon Musk owns about 42% of the company's shares, which will remain locked up until June 2027, making it the largest source of restricted shares in the company. In addition to the unlock factor, the market is also closely watching SpaceX's 13th test flight of the "Starship" rocket. The test flight is scheduled to take place on Thursday, and it is widely believed that the results of the test flight could have a significant impact on investor sentiment and stock price movement. Against the backdrop of the stock price falling below the IPO price, a rapid increase in short positions, and the approaching unlock pressure, the volatility of SpaceX's stock price may further intensify in the near future, with the progress of the test flights and subsequent financial performance becoming the focus of market attention.