NEW YORK, July 23 (Reuters) – Short sellers targeting SpaceX shares are sitting on an estimated $15.5 billion in paper profit since the rockets-to-AI firm’s mid-June initial public offering, as its stock slipped below the IPO price, according to data through Tuesday from analytics firm Ortex Technologies. Short sellers aim to sell borrowed shares to […]
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Short sellers notch $15.5 billion profit as SpaceX shares slip -Ortex
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NEW YORK, July 23 (Reuters) – Short sellers targeting SpaceX shares are sitting on an estimated $15.5 billion in paper profit since the rockets-to-AI firm’s mid-June initial public offering, as its stock slipped below the IPO price, according to data through Tuesday from analytics firm Ortex Technologies.
Short sellers aim to sell borrowed shares to buy them back at a profit.
(Reporting by Saqib Iqbal Ahmed, Editing by Louise Heavens)