SPACEX — SPACEX SHARES, DEBT PLUNGE AS INVESTORS TURN BEARISH; SHORT INTEREST SURGES

Investor sentiment has soured on SpaceX just a month after its record-breaking IPO, with shares falling below the $135 listing price to close at $123.99. The stock is down 40% from its post-IPO high, while short sellers have booked paper profits of approximately $4 billion. Short interest has climbed to 30% of the free float as traders anticipate further pressure from a lock-up expiry next month that could release 900 million more shares. The company's 30-year bonds have also sold off, with yields rising to 7.4% from 6.7% at issuance.