On August 6, prominent trader Ouyang Zhuaibai said he remains bullish on the storage sector over the medium-to-long term and prefers buying on dips. On SPCX, he argues the priority now is “not being bullish” rather than “not being bearish,” mainly because a large volume of shares is about to unlock. Short interest stands at about 300 million shares, while roughly 900 million shares unlock today, with another 900 million set to unlock in batches over the next three months.
BlockBeats reports that on August 6, well-known trader Ouyang Zhuaibai posted that he maintains a medium-to-long-term bullish view on the storage sector and leans toward buying on dips.
Regarding SPCX, he said that compared with “not being bearish,” the current priority should be “not being bullish,” mainly because a large number of shares are about to unlock. At present, the actual number of SPCX shares being shorted is about 300 million, while roughly 900 million shares are set to unlock today.
Over the next three months, another approximately 900 million shares will be unlocked in batches. As a result, he believes SPCX’s upside is capped. The more suitable medium-term strategy, in his view, is to consider building a short position if SPCX stages a rapid rally in the short term.
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