SpaceX Stock Crashed and the TV Cheerleaders Are Already Moving On: Don’t Let Them

Pigs in Space and the Investors Who Followed Them

SpaceX went public. The hype machine went into overdrive. The TV personalities called it a great deal. And then the stock fell from $225 to $121.

I warned you. I said it on the podcast and on the radio before any of this happened. The valuation was ridiculous, the risk was enormous, and the crowd chasing this thing based on celebrity CEO worship was going to get burned.

They got burned.

Cramer’s 38-Day Memory Hole

June 12th. Jim Cramer on CNBC. His exact words: “Very good deal, well priced. People who want to buy it should absolutely do it. Nothing embarrassing about this. This one will make people a lot of money.”

Thirty eight days later, the same Jim Cramer said he did not like the stock.

Same company. Same CEO. Same rockets. Same vision for owning space. But now he does not like it.

This is what financial media accountability looks like in America. There is none. These people say whatever fits the moment, move on to the next exciting story, and you are left holding the bag. Nobody at the network calls them out. Nobody pulls the tape. I pull the tape.

The Fake Trillion Dollar Panic

Every time a hot stock drops, the headlines scream about trillions being wiped out. Let me explain why that framing is deliberately misleading:

• Paper valuation is not real money. Nobody could buy every SpaceX share at $225. The math does not work.
• Peak market cap is a theoretical number, not a pile of cash that existed and then disappeared.
• The fear generated by these headlines keeps ordinary investors making emotional decisions that benefit institutions.
• There is no money heaven where your trillion dollars went. It was never there.

This is part of a broader pattern of financial media keeping everyday Americans confused, scared, and reactive. Confused and scared people make bad decisions. Bad decisions transfer wealth from your pocket to someone else’s.

What I Actually Think About IPOs

If IPO shares fall in my lap at the offering price, I take them and sell on day one. That is not a long term investment thesis, that is recognizing a lottery ticket when I see one.

Buying in the open market after the pop? That is a completely different animal. You are buying hype at a premium with none of the upside cushion the early investors had.

Great companies can be terrible investments at the wrong price. SpaceX might absolutely dominate space exploration over the next 20 years. That does not mean paying $225 a share made any sense.

Nobody Is a Guru. Stop Treating Them Like One

I have said this for years. I am not a guru. I do not catch exact tops and bottoms. Anyone who claims they do is lying to you outright.

What I do is look at valuations, assess risk honestly, and tell you when the math does not support the enthusiasm. That is not as exciting as “this one will make you rich.” But it is the truth. And the truth tends to protect your money better than celebrity stock tips from cable television.