Short sellers eye SpaceX shares, but few dare to bet against Musk

According to S3 Partners, about 40 million SpaceX shares are currently held in short positions, accounting for roughly 5 to 7 percent of the publicly available trading float. Interest from short sellers has picked up as SpaceX has become more active in public capital markets, including its reported plans to raise $20 billion through a bond offering. However, most professional investors remain hesitant to openly bet against the company, citing the reputational and financial risks associated with Elon Musk's track record and SpaceX's unique contracts with NASA and the US Department of Defense. Analysts note that the short interest ratio relative to the float remains moderate by technology sector standards. Nevertheless, the very emergence of meaningful short interest in one of the world's most secretive and highly valued private companies is a notable market signal.