New Delhi, Aug. 9 -- NEW YORK - The morning of August 6 belonged to the bears. By evening, it belonged to the stock.

When Space Exploration Technologies Corp. unlocked 911.5 million insider shares, more than three times the existing public float, the short case looked airtight. That volume of supply, arriving in a market where SPCX had already fallen 22 percent below its $135 initial public offering price to a low of $104.83, was supposed to accelerate the decline. Instead, according to Bloomberg, the stock gained 6 percent on August 6 and 15.8 percent the following day, adding $327 billion in market capitalization over two sessions and pushing shares to $133.11. Volume on August 7 hit 236.7 million shares, 91 percent above the three-mon...