Dear short shorts, A wise man who knows Elon well once told me: 1. Never short a pipe dream. 2. Never bet against Elon Musk. The obvious trade: short $SPCX into the first lockup expiration. I bet on that pipe dream 9 years ago. I own several million shares and will sell zero. This week, you may learn both lessons at once. I’d gladly lock up my shares for 9 more years, and I’m far from alone. With such a small float, it hasn’t taken much selling pressure to move the stock down. But obvious trades don’t stay easy for long. If the company keeps executing and far fewer insiders sell than expected, that dynamic can reverse very quickly. You’re betting against a founder who gets immense pleasure from proving doubters wrong and has a history of turning pipe dreams into reality. Good luck. You may need it sooner than you think.