Elon Musk Has 'Believers, Not Investors,' Steve Eisman Says—Is That Why SPCX Pumped Into the 911 Million

Elon Musk Has 'Believers, Not Investors,' Steve Eisman Says—Is That Why SPCX Pumped Into the 911 Million

SpaceX reported $7.8B revenue (+92%) with $15.8B capex for AI, yet remains ambiguous—satellite monopoly or AI competitor. Valuation at 41x revenue depends entirely on founder loyalty; the 911M-share unlock passed, but retail turned net seller—first sign of demand destruction if execution stalls.