Short sellers are heavily targeting SpaceX shares shortly after its initial public offering. Current data reveals that 111,298,613 shares, equal to 17.43% of the public float, have been sold short as of July 24. This means nearly 1 in 5 SpaceX shares open to public trading are being bet against by investors expecting the price to fall.
SpaceX's stock price has reflected this bearish sentiment, dropping 23.49% over the past month to trade at $118.24 per share. The significant short interest indicates a rising skepticism around the company, especially considering its high valuation versus its recent financial results.
Short Interest and Trading Volume Insights
The short interest ratio currently stands at 1.6 days to cover, which suggests it would take that long for short sellers to buy back all borrowed shares based on the stock’s average daily volume. While this is a fairly low coverage time, the overall volume of shares sold short remains substantial.
Further analysis shows that off-exchange short volume reached 24.95 million shares, with 65.53% of short selling happening in alternative trading venues. This highlights a strong trend of bearish positioning outside main exchanges.
Despite the heavy short interest, SpaceX continues to be one of the most heavily shorted large-cap stocks on the market. Analysts have flagged concerns over the gap between SpaceX’s $1.77 trillion IPO valuation and its revenue and losses reported in Q1 2026. Investors appear to be cautiously betting on a potential decline in the near term.
Market participants will closely watch the upcoming earnings report scheduled for August 4, which could influence stock performance and possibly shift sentiment.
