SpaceX's post-IPO plunge sets tense backdrop for first earnings report

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https://www.cnbc.com/2026/08/03/spacexs-post-ipo-plunge-sets-tense-backdrop-for-first-earnings-report.html

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> Much of the investment thesis for SpaceX is a bet on Musk and his promise to build data centers in space and eventually send humans to Mars while trying to win in AI.

Enough said.

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In other words, there is no rational thesis for investing in SpaceX.

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Only the greater fool theory, perhaps.

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Hopium and speculation is still not a "rational" thesis.