On Wednesday, the short sellers are still counting their money; by Friday, the phones get blown up—SPCX wipes out $327 billion in two days, a textbook squeeze on Wednesday. The shorts who bet against SpaceX are still popping champagne. When the earnings report comes out, revenue hits $7.8 billion, up 92% year over year, beating expectations. But AI capital expenditures are $18.3 billion—2.35 times the revenue. The stock price plunges 14%, setting a new post-listing low. The short ratio jumps to 36%. The shorts’ paper profit exceeds $9 billion. They think they’ve won. Two days later, these people may be getting calls asking them to top up their margin. On Thursday, 911.5 million shares of restricted stock are set to be unlocked. The float increases from 639 million to 1.55 billion shares—more than double. Potential sell pressure of $100 billion. Everyone feels like a stampede is coming. Analysts warn,
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