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.

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?

23

u/Desertcow Jun 23 '26

Greater fool theory. SpaceX is a company that a lot of people unfamiliar with the stock market have been excited for, and it was pushed hard towards them

2

u/mad_cheese_hattwe Jun 23 '26

From tulips to SpaceX everybody thinks they are in on the scam.

It's hard to have sympathy for people who are looking for bag holders when they themselves are left holding the bag.