Elon Musk issues red flag warning to group of SpaceX traders — but they keep doubling down. Are you making the same bet?

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Elon Musk has issued another warning to traders betting against SpaceX (NASDAQ:SPCX).

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"I try to warn them, but they just double down …" Musk wrote on X (1), responding to a post highlighting the rapidly growing bearish wager against his rocket, satellite and artificial intelligence company.

His warning came as data from S3 Partners (2) showed roughly 95% of the SpaceX shares available to borrow had been loaned out, translating to 34% short interest as a percentage of the float.

Short sellers borrow shares and immediately sell them, hoping to buy them back later at a lower price and pocket the difference.