Elon destroys traders shorting SpaceX stock

Traders are losing billions of dollars shorting SpaceX stock. Elon Musk just surprised everyone. Let me explain. SpaceX hit an all-time high of $225 a share back in June. The stock has been crashing because when the company first went public, only 5% of available to trade for a reason. You see there was high demand for this and not enough shares to go around, which caused the stock to skyrocket. But then reality set in on August 6th. Over 911 million shares from early investors and employees were unlocked and able. This would more than double the supply of shares and caused the stock to crash 53% to just $104 bucks a share. Traders loaded up on short positions and made a ton of money until they lost everything. You see Elon Musk he said was extremely undervalued and made two announcements that would absolutely destroy short sellers. First, he announced the Terra fab factory, the largest man-made structure in the world, spanning 100 million square feet. This new facility in Texas would mass produce semiconductors for use in Tesla and SpaceX products. This one factory will be able to produce 5,000% more chips than all of the world currently combined. This would make billions in revenue because they would be producing AI chips and increase global capacity by over 5,000%. He then announced the rollout of Starlink mobile, a phone plan using the company's massive network of cellular satellites. Instead of relying on cell towers like other companies, Starlink Mobile could give you full bars even in Antarctica. Elon projects that this service could add $1 trillion in revenue to the company. And this is what happened after. The stock went up after that announcement, but this one changed everything. The company announced Starlink Mobile, a phone plan that would compete with companies like AT&T, Verizon and AT&T. It would use Starlink's massive network of satellites to provide phone service to literally anywhere in the world. And Elon even said that this could add over $1 trillion in revenue to the company. And this is what happened after. The stock went up over 30% in the following week and short sellers were absolutely decimated.