The bond market’s assessment also jibes with SpaceX’s stock. It’s a profitless, non-dividend-paying, one-person-controlled, empire-building project trading at more than 100 times sales, about 30 times the valuation of the S&P 500 Index. That’s the very definition of a junk stock.
Original link: https://www.bloomberg.com/opinion/articles/2026-07-02/spacex-is-junk-that-s-what-the-bond-market-says
It’s at $162 right now. Above where it IPO’d at. How are people losing their fortunes? I’m not defending spaceX or Elon (fuck that guy). But how are people losing a fortune exactly?
I know it’s a scam but honestly most of the market feels that way right now anyway.
Day 1: “Let’s see how this goes.”
Day 2: “It’s up 20%? I can’t miss out on this gravy train!”
After drop: “It’ll go back up for sure.”
I don’t know how fast it was before it peaked, but not everybody bought right away. Or people added more money after they saw it going up.