Are Short Sellers About to Force a Historic SpaceX (SPCX) Stock Squeeze?
Dear Readers, Welcome to Deep Research Global.
Thirteen days after the largest IPO in capital markets history, the trade that almost nobody on Wall Street wanted to put on is suddenly the most crowded one of the summer.
SpaceX (SPCX) shares have plunged roughly 30% from their post-debut high, and the short side of the book has lit up.
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Short interest in SPCX has jumped from 8% to 13% of free float in a single trading session, and the cost to borrow shares has collapsed from a punitive 14% at launch to roughly 1%.
That combination is rare, and it’s exactly the kind of setup that has produced violent reversals in the past.
The question for investors is whether the rapid build in bearish bets, layered on top of a $25 billion bond deal, a $60 billion Cursor acquisition, and a tiered lockup calendar that starts unlocking shares in August, is laying the kindling for a textbook short squeeze, or simply marking the first leg of a longer repricing toward fair value.
Let’s analyze everything in detail.
SPCX SNAPSHOT (June 25, 2026)
- IPO date: June 12, 2026 (Nasdaq)
- IPO price: $135 / share
- Post-debut peak: ~$225.64 (intraday, June 16)
- Recent price: ~$154–$156 range
- Drawdown from peak: ~28–30%
- Short interest: 13% of float (Ortex) vs. 5–7% (S3)
- Cost to borrow: ~1% (down from ~14% at launch)