Multiple outlets report that short sellers record roughly $8.7 billion in profit as SpaceX’s share price declines to around its initial public offering (IPO) price and then dips slightly below it. The figure is attributed to data provider Ortex, cited by at least one report, which tracks trading activity and estimates short-selling performance. The coverage characterizes the move as a reversal from earlier trading levels, with SpaceX shares reportedly slipping to the IPO price range amid ongoing market activity. Across the articles, the common thread is the scale of the short-sellers’ gains—about $8.7 billion—paired with a relatively modest decline in the stock, described as falling to or below the IPO price rather than a large sustained drop. The reports do not indicate a specific company action driving the price move, and they focus primarily on the estimated performance of short positions and the share-price reference to the IPO level. Overall, the accounts align on the key numbers: the estimated short-seller profit and SpaceX’s stock trading around or below IPO price.