SpaceX fell from its listed high point at one time to nearly half, and two long positions totaling nearly $5 million were liquidated one after another.

BlockBeats message: July 17, according to Hyperinsight monitoring, SpaceX (SPCX), which has been listed for just over a month, saw its downtrend deepen this week. On Wednesday, SPCX’s underlying stock traded below its IPO offer price of $135 for the first time during the day since it began trading. The stock closed at $135.27 that day. On Thursday, the selloff continued and extended into after-hours.

Earlier on Thursday morning, SPCX briefly dipped below $120, then rebounded, and was temporarily quoted at $126.2. At one point, it was down from its $135 issue price by about 11.1%. It was also down about 25.4% from its first-day closing price of $160.95. Compared with its all-time high since listing of $225.64, it has retreated by about 46.8%.

Under the pressure of the selloff, during U.S. trading hours through after-hours on Thursday, two SPCX long positions (0x5adb) (0xb760) were liquidated by the market in succession. A total of 38,896.4 SPCX were closed out, with a cumulative liquidation trade value of $4.9723 million, resulting in realized losses of $599.7k. The details of the two liquidation rounds are as follows:

The whale that was the first to be liquidated, whose address begins with 0x5ad, did not exit the market. About 2.5 hours later, it re-entered and bought 14,546.44 SPCX at an average execution price of $131.09, with a total trade value of $1.9069 million, holding the position using an 8x cross-position mode. Its current position value is $1.8355 million, with an unrealized loss of $71.4k. The liquidation price is $117.6, about 6.75% below the current price.