Dan Ives decided SpaceX stock needed his blessing. The company debuted at $135 in June. Shot up. Came back down. Did the thing stocks do when retail traders remember they have bills.
Ives hung his bullish call on the Starship rocket. Reusable. Super heavy. All the adjectives that make grown men feel something. The rocket is apparently a linchpin, which is a word analysts use when they need to sound like they understand engineering. They do not understand engineering. They understand Excel and the ctrl+c function.
SpaceX makes rockets and satellite communications equipment. You would think that business model explains itself. Build rocket. Launch rocket. Sell internet from space. But no. We needed Dan Ives to tell us the reusable rocket is important. Without him we'd all be standing around wondering if throwing away a hundred-million-dollar booster after one use was the smart play.
The stock fell back toward debut price. That sentence does not contain news. That sentence contains gravity. What goes up comes down unless Elon straps it to a Starship, and even then you're getting maybe a 50-50 shot depending on which test flight we're talking about.
Retail traders bought at $160 because a man on Twitter with laser eyes told them SpaceX would hit $500 by July. It did not hit $500 by July. It hit $135. Those traders now own a space company at the same price it started. They call this investing. The rest of us call it expensive nostalgia.
Ives went bullish on reusable rockets like he just invented the concept. SpaceX has been landing boosters since 2015, but sure, let's pretend the analyst cracked the code. Next he'll go bullish on Amazon because he heard they deliver packages.
The linchpin for success is not the rocket. It's never the rocket. The linchpin is whether enough dipsh*ts keep buying every time an analyst remembers SpaceX exists.
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