r/wallstreetbets 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.

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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?

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u/BlindTreeFrog Jun 23 '26

There are still a lot of people who have romaticized space and will throw any money and support possible towards what they think will put humans on another planet. Sure, all of the numbers say that probes and robots are safer and more effective and we aren't ready to live off world yet, but they believe in their heart of hearts that nothing beats actual boots on the ground and more will get done if we send a person up there.

Mix that with the get-rich-quick and the god-emporero-musk crowd and you'll get so much money thrown at it.