SpaceX is a pretty important company not just for "the market" but also for many other things (see Russia/Ukraine war).
Fair warning: I know nothing about all this.
When you buy equities, if the company turns out shockingly successful beyond most peoples probable expectations you dont simply want your investment to just stay flat, you want to make multiples of your money. In order to do this, you simply cant start from a 2T marketcap. No company worth 2T can make you 100x your money or even 10x or 5x your money in a reasonable amount of time given the overall size of the economy.
To hedge against the stock going up and making your buy in even more expensive.
> SpaceX is a pretty important company not just for "the market" but also for many other things (see Russia/Ukraine war)
Starlink, which was rolled in to SpaceX, is/was profitable and it is a factor in Ukraine.
The rocket division is not profitable, but I sense that there might be a path to a profitably operating business.
As for the X/xAI piece, who knows? Long-term it seems like a moon-shot. I appreciate the irony that it's in the wrong division.
If you wait till the price comes down to its natural level, you'll be able to buy more of the company for less money.
True, if Twitter and xAI stopped existing, there would be an uproar from all the suddenly unemployed disinformation botters.