SpaceX bears surge as lockup unlocks loom and IPO price lingers

Short sellers have expanded their bet against SpaceX to roughly 185 million shares, about 29% of the public float and around $25 billion, as the stock hovers near its $135 IPO price after a July drop. The rise in short interest comes ahead of scheduled unlocks that could increase tradable supply in coming months, with major unlocks around the Q2 earnings and continued tranches tied to milestones; Elon Musk’s roughly 42% stake remains locked through 2027, and investors will watch Thursday’s Starship test flight for sentiment cues.