SpaceX short sellers earn $8.7 billion gains as shares dip below IPO price

Short sellers have earned around $8.7 billion in gains as SpaceX shares slipped below its IPO price of $135 from a post-IPO high of $225.64. About 49% of SpaceX's free float is now out on loan, indicating heavy bearish positioning. The weakness partly reflects investor concerns over debt-funded AI spending, and the sizable short position could inject further volatility into the shares.