SpaceX shares rallied sharply for a second straight day on Friday, squeezing traders with bearish bets. More than 250 million shares remain sold short — roughly 16% of the tradable float, according to BlockBeats. If the rally continues, forced short covering may intensify the upward move. Options activity has also been unusually strong: by 1:50 p.m. New York time Friday, SpaceX options volume hit 2.24 million contracts, including 1.3 million calls, an all-time high. That suggests money is flowing back into the stock. Even so, the rebound has not dispelled worries about SpaceX's valuation. With the supply impact from lock-up expirations gradually fading, investors still face a key question: will the market keep paying a premium for SpaceX before its AI, satellite internet and space businesses fully deliver?
SpaceX shares extended their rebound into a second day on Friday, putting sellers under mounting pressure. The move follows two sessions of sharp gains this week.
According to BlockBeats, more than 250 million SpaceX shares are still sold short, equal to about 16% of the available float. If the price keeps climbing, traders who bet against the stock could be forced to cover, adding further upward momentum.
Options trading has also picked up sharply. By 1:50 p.m. New York time Friday, total volume reached 2.24 million contracts, including 1.3 million calls — a record high. That indicates capital is returning to the options market.
Yet the bounce does not mean concerns about SpaceX's lofty valuation have disappeared. As the supply overhang from expiring lock-ups is gradually absorbed, investors must decide whether they are willing to keep paying a very high price before SpaceX's AI, satellite internet and space businesses deliver on their full potential.
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