SpaceX Draws Only 40 Million Shorted Shares as Stock Sinks 28% From June 16 Peak
Updated
Updated · CNBC · Jun 23
SpaceX Draws Only 40 Million Shorted Shares as Stock Sinks 28% From June 16 Peak
3 articles · Updated · CNBC · Jun 23
Summary
About 40 million SpaceX shares are sold short—roughly 5% to 7% of its 625 million-share float—even after the stock fell 12% this week and 28% from its June 16 high.
More than 30 million shares remain available to borrow and annualized borrow fees are below 1%, signaling easy access for bearish traders but little sign of a crowded short.
S3 Partners said the setup looks like normal price discovery rather than a short-squeeze trade, while FactSet data show about 60 S&P 500 companies carry short interest above 7% of float.
Elon Musk's following and SpaceX's status as a closely watched growth story appear to be keeping skeptics cautious; Michael Burry said he explored ways to bet against the stock but passed.