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SPCX short sellers need to be cautious. Compared to other stocks with a trillion-dollar market cap and high liquidity (over 95%), SPCX initially had an IPO circulation of 555.6 million shares (about 4.3% of the total shares). Although the current market value has reached 2.5 trillion, 95.7% is locked up, with 85.1% locked by Musk and major investors for one year. The remaining shares will be released gradually after the Q2 financial report. At the current price, the circulating market value is only over 25k.