SpaceX nearly halved from its listing high at one point; two longs with nearly $5 million in long positions were liquidated successively.

TechFlow reports, July 17, according to Hyperinsight monitoring, SpaceX (SPCX), listed for just over a month, deepened its decline this week. On Wednesday, SPCX stock fell below the $135 IPO offering price intraday for the first time since listing, closing at $135.27 that day; the decline continued on Thursday and spread to after-hours trading.

SPCX wicked below $120 early in the morning, then rebounded, currently trading at $126.2. It fell below the offering price by about 11.1% compared to the $135 issue price, dropped about 25.4% from the first-day closing price of $160.95, and drew down about 46.8% from the all-time high of $225.64 since listing.

Amid the decline, during Thursday's intraday to after-hours session in the US stock market, two SPCX longs (0x5adb) (0xb760) were liquidated by the market successively, closing a total of 38,896.4 SPCX tokens, with a cumulative liquidation turnover of $4.9723 million and realized losses of $599,700. Details of the two liquidations are as follows:

The whale with address starting with 0x5ad who was liquidated first did not leave; about 2.5 hours later, they repurchased 14,546.44 SPCX tokens at an average transaction price of $131.09 and a turnover of $1.9069 million, holding with 8x isolated margin mode. The current position value is $1.8355 million, with an unrealized loss of $71,400, liquidation price at $117.6, about 6.75% away from the current price.