$100 billion in SpaceX shares just unlocked. Short sellers are already up $9 billion

SpaceX stock touched a new low on Thursday as up to 911.5 million shares held by insiders became eligible for sale for the first time since the company went public in June.

The stock dipped to $105.11 in early trading before bouncing back to $111.17, a gain of 2.6%. As of Wednesday's close, SpaceX shares had shed more than half their value from the June 16 peak of $225.64 and were about 20% below the $135 IPO price.

The newly eligible shares, valued at roughly $100 billion at current prices, bring the total tradable share count to 1.55 billion, up from the 639 million that changed hands when Space Exploration Technologies Corp. completed its IPO, according to Bloomberg. The 911.5 million unlocked shares represent more than 140% of the stock that was available after the IPO, according to Barron's…Read Full Article