Monitored by Woofun AI, a significant market participant incurred a loss of nearly $1.2 million due to the forced closure of a leveraged position in SpaceX. The trader had established a long position with 20 times leverage at an entry price of $204.65, representing a total position value of $5.51 million.

The liquidation event occurred at $105.89, triggered by a precipitous drop in SpaceX stock price that exceeded 10%. This high-leverage exposure resulted in the complete wipeout of the position as the asset price retreated below the critical threshold.