SpaceX Short Interest Falls to 11% From 34% Peak: Are Bears Capitulating?

Short sellers are abandoning their bets against SpaceX (SPCX) just as the stock stages a sharp rebound. Short interest in the company fell to roughly 11% of its tradable float this week. That is down from a peak of 34% just seven days earlier, according to S3 Partners.

SpaceX Heading Back to Opening Price The unwind comes as SPCX shares climbed about 41% off their Aug. 3 low. That SpaceX stock rebound lifted the stock back above its $135 initial public offering (IPO) price and towards its open opening of $150.

Short interest had already overtaken Tesla’s ahead of last week’s earnings report and a share lockup expiration. Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners, said bearish traders have little ammunition left.

“Shorts that wanted to short are out of bullets.” — Ihor Dusaniwsky, CNBC SPCX is rebounding from its lows: Image Source: Trading View SpaceX can Determine the Market Direction Bob Sloan, founder of S3 Partners, went further on CNBC.