SpaceX Shorts Surge to 29%, Driven by Valuation and Lock-up Fears

S3 Partners reports that short interest in SpaceX (SPCX) surged to approximately 185 million shares. This figure represents roughly 29% of the public float.

Short interest totaled only 5% to 7% of the float three weeks ago. The total value of these bearish positions reached an estimated $25 billion.

The stock fell below its $135 IPO price for the first time since its June debut. Shares have declined approximately 20% since the start of July.

Analysts attribute the negative sentiment to high valuation concerns. The upcoming expiration of insider lock-up periods also pressures the stock.