SpaceX Set to Wipe Out $1 Trillion in Value as Shares Slide - Bloomberg.com
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- SpaceX shares slid on Friday, with Bloomberg's headline framing the decline as set to wipe out $1 trillion in value as the stock fell toward its IPO price
- Short sellers notched $8.7 billion in profit as SpaceX shares dipped to the IPO price, per the Bloomberg headline
Why it matters: Both retail traders and Wall Street are now underwater on SpaceX at the IPO level per CNBC's coverage, flipping a heavily hyped debut into a near-term loss for buy-and-hold investors while rewarding the bearish bets that called the slide.
