SpaceX short sellers sit on $15.5B in gains as stock drops 27%
SpaceX Stock Under Pressure as Post-IPO Decline Accelerates
SpaceX (NASDAQ: SPCX) is in a clear downtrend. The daily chart confirms bearish control across every meaningful indicator, and the fundamental backdrop offers little reason to expect a near-term reversal. The stock closed at $118.24 on July 23, well below its $135 IPO price from June. It has shed roughly 27% for the month alone.
Short sellers have reportedly amassed an estimated $15.5 billion in unrealized gains, according to data from Ortex Technologies cited by Reuters. That figure alone signals how decisively market sentiment has shifted since the public debut.
The session on July 23 showed some intraday resilience. The stock moved from an open of $115.10 to close at $118.24. However, that recovery is happening well below every major moving average. The broader structural damage is clear.
Key takeaways
- SpaceX (SPCX) closed at $118.24 on July 23, down roughly 27% for the month and well below its $135 IPO price.
- Short sellers have amassed an estimated $15.5 billion in unrealized gains, according to Ortex Technologies data cited by Reuters.
- The daily EMA20 ($137.24), EMA50 ($142.32), and EMA200 ($138.84) all sit significantly above current price, confirming sustained selling pressure.
- Insider lock-up agreements begin expiring in August, creating a confirmed near-term supply overhang.
- The daily MACD histogram at -3.84 shows bearish momentum is still expanding, not fading.
SPCX Daily Chart: Moving Averages Paint a Damaging Picture
The daily moving average alignment confirms sustained selling pressure. Price at $118.24 trades significantly below the EMA20 at $137.24, the EMA50 at $142.32, and the EMA200 at $138.84. That kind of alignment — price compressed beneath stacked declining averages — reflects persistent distribution, not a temporary dip.
… Continue reading the full article at the original source below.
