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A lot of people are looking at SpaceX ($SPCX ) market cap and thinking, “This is way too high, it has to crash.” What they’re missing is that only around 5% of the supply is currently in circulation. The float is tiny. Liquidity is relatively low. That makes the price much easier to move and a lot harder to dump than people expect. I’ve seen many traders shorting it purely because the valuation looks expensive. That logic makes sense on paper, but markets don’t trade on market cap alone, they trade on supply and demand. The first major unlock (~20% of supply) isn’t expected until August. Until then, don’t be surprised if this thing continues doing some absolutely crazy moves. Low float assets can stay irrational much longer than most traders can stay solvent. It is Obviously not gonna end well but when will it end. Thats just a guess. $SPCX #SpaceXPassesMicrosoft