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Very likely the bloodbath in the market today is because of SPACEX!
Investor summaryBearish
Author blames today's market crash on investors selling portfolios to fund the upcoming SpaceX IPO, overshadowing geopolitical tensions.
Bear points
- Investors are selling off existing portfolios, even at a loss, to raise cash for the highly anticipated SpaceX IPO.
- The massive capital drain towards Elon Musk's new public offering will overshadow other sectors and cause a market bloodbath.
Post body
I am kind of thinking the bloodbath we saw today in the market is because of SpaceX IPO.
I doubt the war between Iran vs the US/Israel allies has impact though not entirely. But the SpaceX IPO to, me, is the elephant in the room. Folks might be gearing up for it by selling off their portfolios even at a loss because its Elon in the market!
Who wouldn't want to buy Elon?
The only antidote, I would think, is for other sectors to hike their share prices to ground investers especailly retailers, to stay put! But I guess that won't happen.
So, lets sit back and watch.
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