SpaceX shares fall 10.6% below IPO price, whale position near liquidation

HuoXing Finance reports that, as of July 21, according to Hyperinsight monitoring, SPCX on Hyperliquid continues to decline, currently trading at $120.66, down 47.5% from its previous high of $230. SpaceX previously priced its IPO at $135 per share, and the current price is now approximately 10.6% below the offering price; today’s intraday low reached $119.70. The large whale address beginning with 0x899c had taken a long position in SPCX just before the anticipated inclusion in the Nasdaq index. For over a month since then, this address has made no additional trades—its position remained unchanged through the positive news being priced in, as well as through the subsequent sustained decline and breach of the IPO price. The position is now nearing liquidation, with only about $4 of buffer remaining. On the morning of June 15, this whale purchased 16,082.2 SPCX tokens, and the position size has not changed since. As of this writing, the position is held with 3x isolated leverage, valued at approximately $1.94 million, with an unrealized loss of about $756,000 and a return rate of approximately -84.1%; the liquidation price is around $116.60. The account currently holds only about $111,500 in margin, all of which is allocated to maintaining this position. Transaction records indicate that this whale is a left-side trader: it previously profited $620,000 by going long on BTC in early March; however, subsequent long positions in crude oil and now SPCX have fully erased those gains. Previous report: A whale fully invested $2.72 million in a long position on SPCX, anticipating a price surge ahead of its expected inclusion in the Nasdaq 100.