SPCX extends slide as two bullish traders are liquidated on nearly $5 million in positions
SpaceX (SPCX), listed a little over a month ago, extended its losses this week, according to monitoring data from Hyperinsight cited by BlockBeats on July 17. On Wednesday, the stock fell below its $135 IPO price intraday for the first time since listing and closed at $135.27. Selling continued on Thursday and spilled into after-hours trading, with SPCX briefly dropping below $120 before rebounding to $126.2.
Based on the figures provided, SPCX at one point traded about 11.1% below its offering price, about 25.4% below its first-day close of $160.95, and about 46.8% off its post-listing high of $225.64. During Thursday’s regular and after-hours session, two bullish SPCX traders, identified as 0x5adb and 0xb760, were liquidated. Together, they closed 38,896.4 SPCX, with combined liquidation turnover of $4.9723 million and realized losses of $599,700.
The first liquidated whale, beginning with 0x5ad, did not exit the market. Roughly 2.5 hours later, the trader bought back 14,546.44 SPCX at an average price of $131.09, for $1.9069 million, and held the position on isolated 8x leverage. The position was valued at $1.8355 million, showing an unrealized loss of $71,400, with a liquidation price of $117.6, about 6.75% from the current price.
