Retail investors are driving up demand for SpaceX stock, but one analyst warns it could turn into a meme stock.
Demand for Space Exploration Technologies Corp. (NASDAQ:SPCX) shares is surging among retail investors, but this analyst is cautioning against SpaceX’s rally, pointing towards the commercial space flight giant possibly becoming a “meme stock.”
Retail Demand Shoots Up
In a post on the social media platform X on Tuesday, The Kobeissi Letter said that since Monday, retail investors have bought as much SpaceX as “every other US single stock combined in the entire prior week.”
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