$SPCX just erased $1.2 trillion in market value since June, dropped in 13 of the last 16 sessions, and hit a fresh all time low of $109.53 this week
it's bouncing right now though. up to $116 from Monday's $113.50 close, up almost 4% today
here's the actual tension. Monday, traders bought way more puts than calls, $442 million in premium mostly on the put side. but the four biggest individual trades by premium were neutral to bullish, including someone who collected $1.8 million just selling puts. the headline flow says fear. the biggest money in the room said something else
Cathie Wood bought $23 million of the dip the same week. Bernstein's still sitting on a $239 price target, more than double where this trades today. Morningstar says the stock's fairly valued as is and thinks it'll take decades for earnings to actually catch up to the price being paid for it right now. two very different reads on the same stock
worth remembering SpaceX owns xAI now too, that's part of why it's caught in the same "Wall Street punishing AI stocks for capex" wave hitting chip names everywhere this week
first earnings report since the IPO lands in early August. right after that, insiders can sell up to 911.5 million locked up shares
that's the real event to watch here, not this week's bounce 👀
it's bouncing right now though. up to $116 from Monday's $113.50 close, up almost 4% today
here's the actual tension. Monday, traders bought way more puts than calls, $442 million in premium mostly on the put side. but the four biggest individual trades by premium were neutral to bullish, including someone who collected $1.8 million just selling puts. the headline flow says fear. the biggest money in the room said something else
Cathie Wood bought $23 million of the dip the same week. Bernstein's still sitting on a $239 price target, more than double where this trades today. Morningstar says the stock's fairly valued as is and thinks it'll take decades for earnings to actually catch up to the price being paid for it right now. two very different reads on the same stock
worth remembering SpaceX owns xAI now too, that's part of why it's caught in the same "Wall Street punishing AI stocks for capex" wave hitting chip names everywhere this week
first earnings report since the IPO lands in early August. right after that, insiders can sell up to 911.5 million locked up shares
that's the real event to watch here, not this week's bounce 👀