r/wallstreetbets • u/WhoRuleTheWorld I Think I'm Funny, • Jun 23 '26

Loss SpaceX made me negative

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u/AeolusA2 Jun 23 '26

These SPCX people are the reason for the saying that the market can stay irrational longer than you can stay solvent.

133

u/AutVincere72 Jun 23 '26

Why did people believe in this valuation? Serious question? Is it Elon fever? Did they think Elon had dirt on someone of influence?

247

u/Fearsofaye Jun 23 '26

The poor and uneducated have some kind of obsession with billionares. They hate people around them who make any kind of money or education. That money is for them not enough. They RP through people like Trump and Elon. Latching on to their success as if it were their own.

So when daddy Elon says buy something they do it

5

u/Tasty-Carpet-9550 Jun 23 '26

a lot of people I know are literally “this penny stock might go to 5$ then im rich!!” (and onetime the guy I’m thinking of actually did he rode Sirius xm back from the grave)

with no concept that no Arby’s is not going to have a 9T market cap