SPCX
Short sellers, meet your problem
SpaceX’s first quarterly report as a public company landed like a brick through a glass table: revenue hit $7.81 billion, up 92% year over year, while the company lost just 9 cents a share — way better than the 24-cent loss Wall Street was bracing for. Not exactly the kind of numbers that make the bears feel cute.
Why the squeeze keeps getting tighter
Elon Musk spent the day roasting short sellers after bearish bets against the stock climbed to about 34% of the public float, or roughly 219.3 million shares. That’s already a huge pile of pessimism, and S3 Partners said about 95% of borrowable shares had already been lent out. Translation: the shorts are crowded in the same tiny theater seat and the fire alarm may have just gone off.
The twist? The company also said roughly 911.5 million insider-held shares are set to become tradable after the lockup expires, which could more than double the public float. That’s the kind of change that can yank the rug around under both bulls and bears.
Bigger dreams, bigger stakes
SpaceX didn’t just beat estimates — it also threw out some pretty wild long-term goals. The company said it expects to hit a $100 billion annualized revenue run rate by the end of 2026 and is aiming for $1 trillion in annual revenue by 2030, with a “non-zero chance” of getting there in 2029. Ambitious? Sure. Slightly sci-fi? Also yes.
For investors, the message is pretty simple: SpaceX is no sleepy rocket company anymore. It’s turning into a public-market circus where fundamentals, float changes, and short interest can all hit the stock at once. Big picture: when a company beats hard, talks big, and has a ton of traders betting against it, the tape can get very weird, very fast.