SpaceX has become the most heavily shorted large public company in the United States, with Wall Street investors wagering more than $26 billion that Elon Musk’s rocket and satellite company’s stock will keep falling after losing roughly half its value over the past month.

Short interest in SpaceX shares reached 219.3 million shares as of July 29, according to data compiled by S3 Partners, equal to roughly 34% of the company’s tradable float. That bearish position, worth approximately $24.6 billion as of that date, has continued climbing since, surpassing $26 billion according to more recent figures, and now exceeds the value of short bets placed against Tesla, the other major public company led by Musk. Short interest has grown dramatically since SpaceX’s debut, rising from just 23.3 million shares when the data was first reported on June 16 to more than nine times that level roughly six weeks later.

SpaceX completed the largest initial public offering in history on June 11, pricing 555.6 million shares at $135 and raising $75 billion, a figure that climbed to $85.7 billion once underwriters exercised their overallotment option. The offering was more than double the size of Saudi Aramco’s 2019 listing, which had previously held the record. Shares opened at $150 the following morning and closed their first trading session 19% above the offer price. Four days later, the stock touched an intraday high of $225.64, valuing the company at roughly $2.1 trillion and briefly making Musk the world’s first trillionaire.

The reversal since that peak has been steep. SpaceX and Tesla together shed a combined $1.2 trillion in market value during July alone. Notably, the stock’s decline continued even after Starship’s 13th test flight succeeded on July 25 in what analysts described as a near-flawless mission and one of the company’s clearest operational wins since going public, an outcome that would typically be expected to boost investor sentiment rather than coincide with a new low.

Short sellers have continued adding to their positions rather than locking in gains as the stock has fallen, even as their paper profits have grown substantially. Bloomberg estimated short sellers’ unrealized gains at $3.88 billion on July 15; a day later, when the stock first traded below its offer price, Ortex Technologies put the figure at $8.7 billion. By July 22, that estimate had climbed to $15.5 billion, meaning nearly $12 billion in paper gains accumulated within a single five-session stretch. According to S3 Partners, short sellers had booked approximately $7.3 billion in mark-to-market profits since the stock began trading in June, making SpaceX the second-most profitable short trade of 2026, trailing only Tesla.

Daniela Hathorn, a senior market analyst at Capital.com, attributed the stock’s decline to a combination of factors rather than any single catalyst. “The stock’s retreat seems to be a combination of profit-taking, valuation reassessment and the unwinding of extremely bullish positioning following one of the most anticipated listings in recent years,” Hathorn said, according to a Reuters report.

Two major catalysts loom in the days ahead that could determine whether short sellers extend their gains or face a sharp reversal. SpaceX is scheduled to report its first quarterly earnings as a public company on Aug. 4, followed two days later, on Aug. 6, by the expiration of the company’s initial post-IPO lockup period. At that point, approximately 911.5 million shares held by early investors, company executives and other insiders, worth roughly $116 billion, will become eligible for sale for the first time, a development that could flood the market with additional tradable shares and pressure the stock further if a meaningful portion of insiders choose to sell.

Ahead of those events, Morgan Stanley has warned that SpaceX is entering what the firm characterized as its most dangerous stretch since going public, citing the potential for approximately $100 billion in market value to become newly available for trading in the coming weeks. The bank has projected SpaceX will report second-quarter revenue of approximately $6.75 billion and an adjusted loss per share of 35 cents, while estimating Starlink’s global consumer subscriber base has reached approximately 12 million households.

Investors have grown more cautious partly because of concerns beyond SpaceX’s core rocket and satellite businesses. The company raised $25 billion through the bond market last month specifically to finance expansion of its artificial intelligence infrastructure, a move that added to broader market unease about aggressive AI-related capital spending across the technology sector, particularly given questions about how quickly that spending will translate into corresponding revenue growth, especially if interest rates remain elevated.

SpaceX is not alone in attracting heavy bearish bets this year. According to S3 Partners, several other major technology companies with significant artificial intelligence exposure, including Alphabet, Amazon, Microsoft, Nvidia, Broadcom and Micron, also rank among the year’s most heavily shorted stocks, reflecting broader investor concern about elevated valuations and heavy capital spending commitments tied to the AI infrastructure buildout across the sector.

Despite the scale of the current bearish positioning, most Wall Street analysts covering SpaceX have maintained largely bullish long-term ratings on the stock, even as they acknowledge that the combination of Thursday’s earnings report and the subsequent lockup expiration could inject significant additional volatility into the shares in the days immediately ahead.

Grammy-winning R&B singer Coco Jones married Cleveland Cavaliers guard Donovan Mitchell on Saturday, with footage from their first dance quickly spreading across social media and drawing widespread attention to the wedding of one of sports and music’s most closely watched couples.

The ceremony took place Aug. 1, roughly a year after the couple announced their engagement in July 2025. Mitchell, 29, and Jones, 28, had dated since 2023, keeping much of their relationship out of the public spotlight in the years leading up to the wedding. Videos shared by wedding guests, including footage posted by former basketball player Troy Payne, showed the couple’s first dance to Musiq Soulchild’s “Love,” with Jones wearing a veil as she moved with Mitchell through a reception tent draped in cream fabric and floral decorations.

Coco Jones wore a reception gown paired with a flowing veil, while Mitchell wore a cream-colored tuxedo for the occasion, according to photos and video from the celebration shared online. Additional footage circulating from the reception showed the newlyweds singing along to “When I See You” with their guests.

The guest list drew heavily from both the NBA and entertainment worlds. Attendees included NBA players Jaylen Brown, Jalen Brunson and Bam Adebayo, along with singer Ciara and her husband, retired NFL quarterback Russell Wilson. Wilson and Ciara’s presence carried particular significance for the couple beyond simple friendship: Wilson connected Mitchell with the event planner who helped arrange his July 2025 proposal, and Jones has publicly described the couple as mentors to her and Mitchell.

Jones previously discussed her wedding planning during a February appearance at the 2026 Grammy Awards, telling PEOPLE at the time that she hoped the ceremony would feel “intimate.” Speaking on the red carpet about the planning process, Jones said she was “really excited” about the preparations, adding, “It’s amazing.”

Mitchell has described his early attraction to Jones as predating their eventual meeting. He had previously sent Jones a direct message on Instagram that she did not see at the time, a message Jones has since said contained “something with a red heart.” Reflecting on the missed message, Jones said she believed the timing of their eventual meeting, rather than the earlier DM, was meant to be. “I’m like, ‘Oh, good, that wouldn’t have worked anyway. I don’t want no heart, I don’t know you,’” Jones said, recalling her reaction. She said the couple’s eventual connection felt fated. “That’s how you know it’s above us. It’s God,” she said. “We’re meant to be.”

Mitchell has previously spoken publicly about his admiration for Jones’s professional drive, particularly after accompanying her on her “Why Not More” concert tour. Speaking during Cavaliers media day last year, Mitchell praised her work ethic directly. “She’s a special human,” Mitchell said. “And you see it in her work.”

The wedding capped an eventful summer for Mitchell professionally. He signed a $273 million contract extension with the Cavaliers earlier this year, securing his place with the franchise through 2031, before marrying Jones just months later. Mitchell averaged 24 points per game during the 2025-26 NBA season and earned his second career All-NBA team selection.

Jones has similarly enjoyed a standout year professionally. She has continued building on the momentum from her Grammy-winning success, releasing new singles including “Luvagirl” in March and “Body So Tea” later in the year, while also maintaining an active acting career alongside her music. Jones first gained national attention as both a singer and actress before her Grammy win helped establish her among R&B’s leading young performers.

The couple’s relationship first became public through a series of joint appearances at high-profile events over the past two years, including Mitchell joining Jones onstage following her performance of “Lift Every Voice and Sing” at Super Bowl LX in February 2026, and Jones attending Cavaliers games throughout Mitchell’s playoff run, including a widely shared moment when the two shared a kiss at Little Caesars Arena following Cleveland’s Game 7 playoff win over Detroit in May 2026.

As of Sunday, neither Mitchell nor Jones had publicly confirmed the wedding themselves, with news of the ceremony spreading instead through footage shared by guests who attended the event. Fans and entertainment outlets have continued sharing and reacting to the viral wedding videos throughout the weekend, cementing the union as one of the more closely watched celebrity weddings to take place this summer at the intersection of the sports and music worlds.

Television footage showed one of the helicopters explode and plunge to the ground in flames following what appeared to be a rotor collision between the two aircraft. State broadcaster ERT reported that one crew member had been found safe, while rescuers continued searching for a second individual as of the most recent reporting. The two helicopters had been leased by Greece’s fire department and had taken off from Elefsina military airport before the collision occurred.

Prime Minister Kyriakos Mitsotakis, who had been briefed on the broader firefighting operation, cited the extreme weather conditions that have complicated aerial firefighting efforts across the region in recent days. “When the winds blow with such force, even the dozens of aircraft we have at our disposal cannot operate safely,” Mitsotakis wrote on Facebook, noting that gusts had reached speeds of up to 100 kilometers, or roughly 60 miles, per hour.

The collision occurred amid an intensifying firefighting operation involving nearly 500 personnel and 23 aircraft deployed to battle the blaze around Porto Germeno, a seaside community on the Gulf of Corinth roughly 40 miles northwest of Athens. Gale-force winds had repeatedly prevented firefighting aircraft from safely collecting water from the sea in the days leading up to Sunday’s collision, severely hampering the broader aerial response even before the crash occurred. Greece’s Civil Protection Minister, Evangelos Tournas, said Saturday that the country’s fire department had been “pushed to its limits” by the scale of the ongoing wildfire activity. Tournas described the specific challenge posed by the strong winds, saying they had created “extremely difficult conditions resulting in many cases where aircraft either cannot draw water or cannot carry out drops due to extreme turbulence.”

The wildfire itself began Friday near Agios Vasileios before sweeping toward Porto Germeno and into the forested mountains west of Athens. The blaze has already destroyed more than 100 homes northwest of the capital, according to reporting on the broader fire’s impact. Theodore Giannaros, a wildfire meteorologist and senior researcher at Greece’s National Observatory, said the fire around Porto Germeno appeared to have affected more than 10,000 hectares, or roughly 24,700 acres, nearly double an earlier estimate of the burned area. “It is highly likely (if not almost certain) that this particular wildfire will be classified as a megafire,” Giannaros wrote on Facebook.

Authorities have carried out multiple evacuations as the fire has spread, including the coastal communities of Kandili, Agia Skepi and Toutouli, with residents in some areas evacuated by sea when fire and smoke cut off the limited road access available from certain coastal communities. Firefighters evacuated 254 people by sea on Friday and another 12 on Saturday, according to reporting on the ongoing response. Flames have also reached a military firing range near the fire zone, activating unexploded ammunition in the area, adding an additional layer of danger for crews working nearby.

Sunday’s helicopter collision adds to a difficult stretch for Greek firefighting operations more broadly. Three firefighters have died in the line of duty in recent days, two in Crete and one in the Peloponnese, according to Greek fire department reporting. Separately, a new wildfire broke out on the Ionian Sea island of Kefalonia, forcing additional evacuations on the popular tourist destination. A 44-year-old man was arrested Sunday on the island on suspicion of deliberately starting that fire, according to the Greek news agency ANA.

Sunday’s events in Greece unfolded as wildfires continued affecting multiple countries across southern Europe amid an ongoing continental heatwave. Wildfires that had previously burned across large areas of France and Spain showed signs of easing over the weekend, even as Greece experienced a fresh wave of wildfire activity following a period of relative calm. Scientists have said the broader pattern of destructive wildfire activity across Europe this summer has been exacerbated by climate change, following an extended period of record-breaking heat and minimal rainfall across the region.

With gale-force winds having only partially subsided as of Sunday and the search for the missing helicopter crew member continuing, Greek authorities are expected to face several more difficult days managing both the immediate aftermath of the helicopter collision and the ongoing effort to contain the wildfire still burning across the mountainous terrain west of Athens.

Apple’s next major product announcement, expected to unveil the iPhone 18 Pro and possibly the company’s first foldable iPhone, appears set to take place Wednesday, Sept. 9, according to analysis based on the company’s longstanding scheduling patterns for its annual fall keynote.

Apple has not yet officially confirmed the date of its fall special event, but the company’s historical scheduling behavior has narrowed the likely window considerably. Since 2011, Apple has held its annual iPhone announcement event every autumn without exception, with the sole deviation being the iPhone 4S keynote, which was pushed later to Tuesday, Oct. 4, 2011. Since then, the event has consistently taken place during the first half of September.

Bloomberg’s Mark Gurman wrote in his newsletter last month that Sept. 8 or Sept. 9 were the most likely dates for this year’s event, according to Joe Rossignol of MacRumors, who has been tracking the speculation. “We are still waiting for Apple to announce the iPhone 18 Pro and iPhone Ultra event,” Rossignol said. “In his newsletter last month, Bloomberg’s Mark Gurman said Sept. 8 or Sept. 9 are the most likely dates for the event.”

Further analysis points more specifically toward Sept. 9 as the likelier of those two dates. Apple has never held its fall keynote on the day immediately following Labor Day, even though Tuesday has historically been the company’s preferred day of the week for the announcement, chosen in nine of the past 15 years. Because Labor Day falls on Monday, Sept. 7, this year, Tuesday, Sept. 8, would fall on the day directly after the holiday, a scheduling slot Apple has consistently avoided throughout its history of fall product launches. That pattern points to Wednesday, Sept. 9, as the most probable date for this year’s keynote, since scheduling the event on Labor Day itself, or asking staff, press and invited guests to travel on the holiday, would represent a break from a practice the company has strictly observed for years.

Apple’s pattern for announcing the specific date of its special event ahead of time has also grown more consistent in recent years, offering an additional data point for predicting when the official confirmation will arrive. In 2020 and 2021, during the disruptions caused by the COVID-19 pandemic, Apple announced its special event just seven days ahead of the keynote itself. Since then, however, the company has consistently announced the event exactly 14 days in advance. In 2024, Apple confirmed its keynote on Monday, Aug. 26, ahead of a Monday, Sept. 9, event. The following year, a Tuesday, Aug. 26, announcement preceded a Tuesday, Sept. 9, keynote. Following that same 14-day pattern, this year’s official announcement is expected to arrive on Wednesday, Aug. 26, confirming a Wednesday, Sept. 9, special event.

The keynote itself is expected to take place at the Steve Jobs Theater at Apple Park in Cupertino, California, following the format Apple has used consistently since 2020, in which the presentation is delivered as a pre-recorded video displayed on the theater’s large screen rather than a traditional live, in-person keynote. This year’s event will mark a notable transition for Apple’s executive leadership: the presentation is expected to be introduced on stage for the first time by John Ternus, who is set to become Apple’s chief executive officer just days earlier, on Sept. 1. The keynote is expected to begin at 10 a.m. Pacific time, 1 p.m. Eastern time and 6 p.m. in the United Kingdom, and is likely to run between one and two hours based on the length of previous years’ presentations. Following the recorded keynote, guests and members of the press in attendance are expected to have hands-on access to the newly unveiled devices, demonstrated by Apple staff, consistent with the format of prior years’ events.

If Apple does unveil a foldable iPhone alongside the standard iPhone 18 Pro and Pro Max lineup, that device is expected to draw significant attention throughout the event’s live coverage and subsequent hands-on demonstrations, given the novelty of Apple entering the foldable phone category for the first time.

Following the keynote, the new iPhone 18 Pro and Pro Max models are expected to become available for purchase the following week, on Friday, Sept. 18, based on Apple’s typical timeline between its fall announcement and the on-sale date for its newly unveiled devices. Should a foldable iPhone also be announced at the September event, it remains unclear whether that device would go on sale on the same date as the standard iPhone 18 Pro lineup or follow at a later point, given the added manufacturing complexity typically associated with a genuinely new device category.

With Apple’s official confirmation of the keynote date still weeks away based on the company’s typical announcement timeline, anticipation is expected to continue building throughout August as analysts and technology outlets refine their predictions about the specific features, pricing and lineup changes Apple is likely to reveal when the iPhone 18 Pro finally takes the stage on what is widely expected to be Wednesday, Sept. 9.

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SpaceX bull case and bear case. (0:17) Bond market eyeing July’s jobs report. (1:30) Trump halts Iran strikes for now. (2:15)

The following is an abridged transcript:

Earnings continue to roll in this week, with 136 S&P 500 companies, including five Dow components, on the calendar.

SpaceX (SPCX) will issue its first earnings report as a public company on Wednesday.

Major topics are expected to include Starlink (STRLK) growth, the Starship timeline and capital spending plans. Elon Musk is also expected to participate on the conference call.

Shares are down more than 50% from their intraday peak of around $225 and roughly 20% below the $135 IPO price.

Seeking Alpha analyst Mike Zaccardi says that despite heavy selling and upcoming share unlocks, the recent drawdown largely prices in those supply risks, while major Wall Street price targets, including Morgan Stanley’s $300 target, remain bullish.

But Seeking Alpha analyst Julia Ostian justifies her Strong Sell rating by pointing to extreme short interest, a looming wave of new shares and skepticism about the sustainability of the AI business and its underlying customer demand.

Here’s how the rest of the earnings calendar shapes up:

Palantir (PLTR) and Snap (SNAP) report on Monday.

AMD (AMD), Merck (MRK) and Pfizer (PFE) join SpaceX. (SPCX) on Tuesday.

Eli Lilly (LLY), Novo Nordisk (NVO) and Uber (UBER) report on Wednesday.

ConocoPhillips (COP) and Airbnb (ABNB) are on deck Thursday.

Take-Two Interactive Software (TTWO) and Oklo (OKLO) report Friday.

And Berkshire Hathaway (BRK.A) (BRK.B) sticks with its tradition of releasing earnings on Saturday.

Looking to the economy, traders will get the first jobs report of the new Fed regime, where the bond market is expected to do the heavy lifting on financial conditions. The long bond remains near a 19-year high after Fed Chairman Kevin Warsh’s press conference did little to ease inflation concerns.

Economists expect nonfarm payrolls to have risen by 86K in July, with the unemployment rate holding steady at 4.2% and average hourly earnings increasing 0.3%.

Wells Fargo says small-business hiring plans and initial jobless claims suggest layoffs remain limited.

But their economists also note that Indeed job postings “are hovering below year-ago levels, while ADP’s measure of weekly private-sector payroll growth has slowed since the spring.”

The potential for a rebound in the labor force participation rate also adds some upside risk to the unemployment rate, Wells Fargo said.

In the news this weekend, investors searching for signs that the Middle East conflict may be easing received mixed signals on Sunday.

President Donald Trump said he had suspended planned military strikes because negotiations could soon reopen the Strait of Hormuz.

Iran, however, quickly denied both Trump’s account and reports that an agreement had been reached, leaving energy markets and regional security caught between competing narratives.

And for income investors, Citigroup (C) goes ex-dividend on Monday and will pay on August 28.

MetLife (MET) goes ex-dividend on Tuesday, with a payout date of Sept. 8.

Carnival (CCL) and JB Hunt (JBHT) both go ex-dividend on Friday. Carnival pays on August 28, while JB Hunt pays on August 21.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Cassandra Sonma Ukaobi, 35, is the first black female founder to secure investment through the North East Accelerator Fund, backed by Mercia Ventures

A Tyneside entrepreneur has secured funding to expand her nurse-led wellness brand.

Cassandra Sonma Ukaobi, 35, has become the first black female founder to obtain investment through the North East Accelerator Fund, supported by Mercia Ventures.

Her brand, Tolicious, offers supplements, detox products, skincare and haircare, while delivering wellbeing programmes for organisations nationwide. The investment will be used to broaden its product range and expand its workforce.

Ms Sonma Ukaobi – also known as Cass UK – aims to scale the business nationally from its North East headquarters. She established the venture after almost a decade working as a nurse across the Caribbean and the UK.

Having spotted a gap in the market for accessible, science-backed preventative wellness, she bootstrapped the business to six-figure revenue in its first year while still working NHS hospital shifts, and it has since been recognised as Best Female-Led Wellness Brand UK 2025.

Alongside Tolicious, the dynamic entrepreneur operates Blueprint Academy – a mentorship programme through which she has helped hundreds of women – particularly those from underrepresented backgrounds – to build scalable businesses. She is also the author of The Tolicious Way: Detox Your Body and Life and the creator of the Healing Chat podcast, reports Chronicle Live.

Ms Sonma Ukaobi said: “Securing the Spark Funding through the North East Accelerator Fund, backed by Mercia Ventures, is a significant milestone for Tolicious. Founded in London and raised in the North East, Tolicious has grown from a vision into an award-winning, nurse-led wellness brand with a mission to make science-backed preventative wellness more accessible.

“This investment will help us accelerate our growth, expand our product range, strengthen our team and continue building from the North East. As someone who bootstrapped this business from the ground up while working as an NHS nurse, this investment represents far more than funding, it is validation of years of resilience, sacrifice and belief in the vision.

“The support from the North East Accelerator Fund and Mercia Ventures demonstrates the power of backing ambitious founders with innovative ideas, regardless of their background. I hope our journey encourages more women, particularly those from underrepresented backgrounds, to believe that their ideas are worthy of investment and capable of becoming nationally and globally recognised brands.”

Those behind the fund say the decision to fund Tolicious represents a landmark moment for diversity within the region’s burgeoning investment landscape.

The expansion by Williams Electrical is being supported with Welsh Government funding

A Carmarthenshire electrical business is expanding with a new headquarters in an investment creating 30 news jobs.

Williams Electrical (Cymru), based in Cross Hands, is delivering a new HQ supported with £312,000 in Welsh Government funding.

The project will create 24 new jobs over the next three years, followed by a further six positions over the subsequent two years. New roles will include qualified electricians and apprentices, more than doubling the company’s current workforce.

The business, which specialises in electrical services and renewable energy systems, has continued to grow in recent years and is investing in additional capacity to support larger commercial projects and future recruitment.

The company has purchased a development plot at the Cross Hands East Strategic Employment Site for its new headquarters.

The employment site has been developed by the Welsh Government and Carmarthenshire County Council through a joint venture and offers development plots for suitable employment uses at a strategic location with easy access to the A48 road network.

The move will triple the company’s existing office space, supporting further business growth, skills development opportunities and the delivery of renewable energy solutions for customers across South Wales and beyond.

Williams Electrical director, Wayne Williams, said: “When we started Williams Electrical Contractors in 2015, it was just two people, one van and a vision to build a trusted business that creates opportunities locally. We’re incredibly proud of how far we’ve come.

“Support from the Welsh Government and Business Wales has helped us continue growing, creating skilled jobs and investing in our future.“We’re proud to be a Welsh business and grateful to everyone who has helped us get to where we are today”

Carmarthenshire County Council’s cabinet member for regeneration, leisure, culture and tourism, Hazel Evans, said:

“We are delighted to see a successful local business investing in its future and creating new employment opportunities in Carmarthenshire.

“The development of a new headquarters at Cross Hands East Strategic Employment site will support Williams Electrical’s continued growth while creating skilled jobs and apprenticeships for local people.

“This investment is a positive example of how our partnership approach is helping businesses expand and contribute to the county’s economy.”