Short sellers rack up $8.7 billion profit as SpaceX slips below IPO price -Ortex

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NEW YORK, July 16 : Short sellers targeting SpaceX shares are sitting on an estimated $8.7 billion in paper profit since the rockets-to-AI firm's initial public offering, as its stock slipped below the IPO price, according to data and analytics firm Ortex Technologies.

Short sellers aim to sell borrowed shares to buy them back at a profit.

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