Elon Musk is like an incompetent husband—SpaceX stock $SPCX has been consistently dropping below its IPO price of $135, plummeting from its post-IPO peak of $225, straight down by half. According to Reuters, since $SPCX went public, short sellers have accumulated unrealized gains of $8.7 billion, with short positions now accounting for nearly one-third of the float—about 196 million shares shorted. No wonder there’s a warning post: institutions that engage in long-term heavy shorting have a very low survival rate. Judging by the historical trajectory of $TSLA after its IPO, $SPCX will most likely need to go through a prolonged consolidation phase before it can take off again.