Key facts
- Short sellers have an estimated $8.7 billion in paper profit on SpaceX shares since its IPO.
- SpaceX's stock has fallen below its initial public offering price.
- SpaceX reported $18 billion in revenue and a $4.9 billion net loss for 2025.
- The company's Starlink segment saw an 86% increase in adjusted EBITDA between 2024 and 2025.
- SpaceX's IPO raised $75 billion, making it the largest in history.
- SpaceX shares opened on Nasdaq at $150, an 11% increase from the IPO price.
Short sellers targeting SpaceX shares are estimated to have accumulated $8.7 billion in paper profits since the company's initial public offering, as its stock price has fallen below the IPO valuation. SpaceX, founded by Elon Musk, recently completed its landmark IPO, raising $75 billion and becoming the largest IPO in history. The company's S-1 filing revealed $18 billion in revenue and a $4.9 billion net loss for 2025, with its Starlink segment showing significant growth in adjusted EBITDA. The AI segment, bolstered by the acquisition of xAI, incurred a substantial operating loss. Despite an initial surge on its Nasdaq debut, SpaceX shares have since declined below their IPO price. The IPO's success has positioned Musk to potentially become the world's first trillionaire and provided a significant liquidity event for early investors and employees.