Short sellers are winning against SpaceX

Short sellers betting against $SPCX have reportedly booked about $4B in paper profits just one month after the company’s IPO.
According to S3 Partners, roughly 30% of all tradeable SpaceX shares are now being shorted, up 10 percentage points in only 10 days.
The stock has now fallen below its $135 listing price for the first time.
$SPCX is trading around $123, down roughly 40% from its mid-June high of $225.
That is a major sentiment shift for one of the market’s biggest post-IPO stories.
For $SPCX, the key question is whether this becomes a short-squeeze setup or a deeper repricing of the space growth narrative.