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Oh this duplicate post again. SpaceX stock may as well be bonds on space flight. I'd buy them at a loss.

That sounds dumb.

But it good illustration of why valuation is so high

Because people make dumb choices? That I would agree.

I would refrain from calling it “dumb”. Just different. Maybe a bit of a hype thing.

If you're buying stocks based on hype, you are dumb.