AI Generated Image
Short Sellers Are Going Hog Wild Against SpaceX as Its Stock Craters
Futurism • • business
Key Points:
- Short sellers against Elon Musk’s SpaceX have profited approximately $8.7 billion, with shares recently dropping to an all-time low of $118.
- The number of shorted shares has surged to around 206 million, nearly a third of publicly tradable shares, as investors anticipate key upcoming events like SpaceX’s first public earnings report.
- Musk has publicly criticized short sellers and reiterated his ambitious prediction that SpaceX will be worth more than Earth if its goals are achieved, though these claims lack current evidence.
- SpaceX faces significant challenges, having lost nearly $5 billion last year and with its AI division losing $6.4 billion, raising doubts about its $1.6 trillion market valuation.
- The company’s upcoming quarterly earnings report on August 4 and a scheduled test of its Starship rocket are expected to heavily influence investor confidence and stock performance.
