SpaceX’s stock price falls amid launch delays and waning short-selling pressure

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Crypto news: SpaceX shares fell in pre-market trading on Friday as investors responded to short-selling pressure, delays in the latest Starship mission, and Alphabet’s reaction to its major stake. On Thursday, SpaceX stock closed at $118.24, up 2.59%. During trading, the price briefly rose to about $118.80, but ahead of Friday’s open it gave back part of the gains; the pre-market trading price was about $115.94, down 1.95%. Despite the rebound on Thursday, the stock remains far below its IPO high of $225.64. Since the IPO, short sellers have accumulated roughly $15.5 billion in paper gains. About 360 million shares, or 56% of the company’s freely tradable stock, have reportedly been lent to short sellers. In its latest earnings report, Alphabet disclosed a major investment in SpaceX, estimating the value of its stake at about $94.1 billion. SpaceX has recently postponed a Starship launch from South Texas due to weather conditions that affected the visibility of the spacecraft’s heat shield during the monitoring flight.
SPCX-2.71%
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