Elon Musk Says the Short Sellers Betting Against SpaceX Have a "Very Low" Survival Probability. Their Bets Now Equal 32% of the Float.
Short sellers have built a $25 billion bet against the rocket maker. Its CEO says they won't survive.
Overview
"The survival probability of firms who maintain a significant short position in SpaceX over time is very low," SpaceX (NASDAQ: SPCX) CEO Elon Musk wrote in a post on X last week. "I said SpaceX will be worth more than Earth if we achieve our goals. Obviously true."
About 206 million SpaceX shares are now sold short, according to estimates from S3 Partners. That's roughly 32% of the company's publicly tradable shares, and about $25 billion in bearish bets. The position is growing fast, too: The short count is up from about 185 million shares just last week, and a month ago the estimate was around 40 million shares.
Details
The market took its time coming around. Shares rose about 3% on Tuesday to close at $123.46, snapping a seven-session losing streak.
Source
Originally published at www.fool.com.