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SpaceX Short Interest Soars Ahead of Big Share Unlock, Earnings
['Arvelisse Bonilla Ramos', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
(Bloomberg) -- Short sellers have piled into SpaceX at a rapid pace ahead of two major milestones next week: the company's first earnings report as a public company and the release of hundreds of millions of locked-up shares.
SpaceX is scheduled to report its first quarterly results as a public company on Aug. 4, less than two months after its blockbuster initial public offering.
Two days later, as many as 911.5 million shares could become available for trading under the company's staggered lock-up arrangement.
As short sellers position for those events, the cost of betting against Musk's rocket, satellite and artificial intelligence company has also risen.
SpaceX currently has about 640 million shares available for trading, or roughly 5% of its total shares outstanding.