BlockBeats News, July 16th, according to Bloomberg, SpaceX (SPCX.O) stock price has dropped below the IPO price, triggering a massive short selling.

Data shows that short sellers' unrealized profits have reached nearly $3.88 billion, with approximately 181 million shares of SpaceX stock currently being shorted, accounting for about 28% of the float. Since hitting a record closing high on June 16th, SpaceX's market value has shrunk by about $860 billion, a one-third decrease.

As the company is about to release its first-quarter earnings report and more restricted shares are unlocked, investors are closely watching the stock price movement.