SpaceX (NASDAQ:SPCX) is facing increased bearish pressure as short sellers ramp up their bets against the company.
Nearly 185 million shares, or about 29% of the public float, are now sold short, representing $25 billion in wagers, according to CNBC.
This marks a significant increase from just three weeks ago when short interest was between 5% and 7%.
The surge in short selling comes as SPCX's stock struggles, having dropped below its $135 IPO price on Wednesday.
Short Sellers Increase Positions The increase in short selling activity has been dramatic, with short interest ballooning from an estimated 40 million shares to 185 million shares.
