Investors betting against SpaceX have amassed an estimated $15.5 billion in paper profits just weeks after the company's blockbuster initial public offering, as the stock continues to slide below its debut price amid mounting concerns over valuation and heavy spending on artificial intelligence.
According to data from analytics firm Ortex Technologies cited by Reuters, short sellers have continued to increase their bearish wagers even after the stock's steep decline. Shares of the Elon Musk-led company, which operates across the space and AI sectors, have fallen below their $135 IPO price after briefly soaring to a post-IPO high of $225.64.
