Trader 0x60a has incurred a $740,000 loss after shorting $5 million worth of SpaceX shares during the lowest prices in the pre-IPO market. The trader's bet against SpaceX has not paid off as anticipated, with the stock's value rising instead of falling. Despite the setback, some market participants speculate that SpaceX, like many IPOs, might eventually trade lower than its initial listing price, potentially validating the trader's strategy in the long run.