#SpaceXValuationReaches 1.67T
๐ Congratulations to SpaceX, keep it up and youโre straight up going to the moonโliterally, guys! ๐๐
SpaceXโs stock (SPCX) just made an incredible comeback, up more than 6%, bringing the companyโs valuation back to $1,670 billion. Itโs still weird: while some crypto folks want to "have eyes popping out of their orbits" to go 2x or 3x, Mr. Elon Musk just needs to launch a few rockets a couple of times, and the fortune grows as much as the size of the entire economy!
๐ Quick analysis: after the pullback from the peak, SpaceX is currently reclaiming its massive place with the general public. With a market cap like this, Starlink and Elonโs Mars project can "burn money" as much as they want, without running out of funds.
๐ค What should traders do at this point?
๐ Donโt get distracted: donโt short Elon Muskโs rocketโbe careful not to burn your account.
โ ๏ธ Wait for the SPCX stock to build up in a stable way, and only then should you think about making a long-term buy.
๐ช Keep holding your crypto positions, accumulate capital so that later you can buy tickets to go to Mars!
#SpaceX #ElonMusk $SPCX $BTC $LAB