$SpaceX(SPCX)$ It's hard to believe all these institutions, funds, and senators lined up and bought this just to get wiped out at lockup expiry. Hard to name another trade that's been this easy. The market is forward-looking, and we've already gone from 225 to 106 — some of that pricing in has likely happened. Pre-IPO lockup also means insiders could sell. The short thesis might need a new angle at this point, especially if Elon ends up merging TSLA and SPCX.
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