SpaceX Bears Breach Orbit: Short Interest Surges Post-IPO

EquiLend data shows borrow demand in SpaceX building at an extraordinary pace since its Nasdaq debut, as short sellers pile in following its post-IPO surge.

EquiLend Borrow Quantity surged from 18.6 million shares at IPO+1 to 211.6 million shares by July 10, an elevenfold increase in under four weeks, driving EquiLend Utilization from 22% to more than 77%. Investor demand for SPCX in the securities finance market continues to grow, and with less than 20% of the lendable pool remaining, EquiLend Cost to Borrow could be set to rise further, having already climbed 66% to 150 bps in the past week.

SpaceX launched on Nasdaq on June 12 at $160.95, following its landmark IPO, rallying to $201.80 by June 16 before shedding roughly 28% from that peak. Public short interest, published by FINRA on July 10, jumped from 23.3 million shares to 111 million shares (more than 20% of float) by June 30, confirming the scale of the short buildup, as had been signalled by EquiLend’s data throughout the weeks preceding this announcement.

With SPCX’s orbit still being charted by bears and bulls alike, subscribe to EquiLend’s real-time data to track every shift in short interest and see how the market is positioning.

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Bloomberg Terminal users can subscribe to EquiLend’s exclusive short selling and financing data by entering terminal shortcut APPS ORBISA <GO> or clicking the following link: https://on.equilend.com/bloomberg-terminal-page.