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I haven't seen anything saying $40. The lowest I have seen is $70.

From TFA:

> "I think it could be half over the course of the year," Noble said, adding that he believes a fair value for the shares is around $30, implying a decline of roughly 78% from current levels.

That's an absurd valuation. Typically stocks are valued at what people are willing to pay, with earnings partially driving that value.

A rational person isn't willing to pay more than the present value of future cash flows. Just like how a rational person wouldn't pay $101 for a $100 bill.

Where it gets fun is that: (1) we have people selling $100 bills for more than $100 and, (2) we have people gladly buying $100 bills for more than $100.

I'd argue the opposite. If the price is largely vibes, you could see wild swings if sentiment changes dramatically. The bitcoin market is an excellent example of this. Worse, the recent BBB- rating on their bond issuance suggests a lack of lender confidence, and if their stock continues to decline those factors could compound.

Verizon + AT&T + Boeing was my estimate for SpaceX value.

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