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Short sellers pile into SpaceX ahead of earnings, lockup expiration
['Vlad Schepkov', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
Investing.com -- Short sellers have increased their positions in SpaceX before two major events next week: the company's first earnings report as a public company and the release of hundreds of millions of locked-up shares.
Two days later, as many as 911.5 million shares could become available for trading under the company's staggered lock-up arrangement.
The cost of betting against Musk's rocket, satellite and artificial intelligence company has also risen as short sellers position for those events.
SpaceX currently has about 640 million shares available for trading, or roughly 5% of its total shares outstanding.
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