Short sellers gain $15.5B as SpaceX stock crashes 27% in July

SpaceX stock (NASDAQ: SPCX) is navigating one of its most turbulent stretches since the IPO. Shares have shed roughly 27% in July alone, falling well below the $135 IPO price. The daily chart paints a clear bearish picture, and structural damage overhead is substantial.

Key takeaways

• SPCX closed at $118.24 on July 23, trading roughly $19–$24 below all major daily exponential moving averages.
• Short sellers have accumulated an estimated $15.5 billion in unrealized gains as the stock retreats from post-IPO highs, per Ortex Technologies data cited by Reuters.
• The daily lower Bollinger Band at $110.12 is the critical support floor; a breakdown below it would confirm an extension of the decline.
• A credible bullish reversal requires reclaiming the daily EMA20 at $137.24, representing a roughly 16% recovery from current levels.
• Google disclosed a $94.1 billion SpaceX stake in a Q2 filing, with roughly $80 billion subject to short-term selling restrictions.

Daily Timeframe: The Structural Bear Case for SpaceX Stock

SPCX’s daily chart confirms a firmly bearish structure. The stock closed at $118.24 on July 23, well below all major exponential moving averages. The EMA20 sits at $137.24, the EMA200 at $138.84, and the EMA50 at $142.32. Price is trading roughly $19–$24 below those levels. That is not a minor technical gap. It represents a firm ceiling of distributed resistance built since the post-IPO peak.

… Continue reading the full article at the original source below.