June 18, Thursday SPCX Afternoon Strategy

Overnight Federal Reserve meeting signals a clear hawkish stance, raising the full-year inflation forecast and keeping the possibility of rate hikes this year. U.S. Treasury yields rose across the board, high-valuation growth stocks came under collective pressure. SPCX ended its three-day rally after listing, closing down nearly 5%, marking its first large bearish candle.
Fundamentally, the current valuation of this stock has already priced in growth expectations for the next few years. The company continues to incur large losses, with heavy asset investments in aerospace and Starlink projects highly dependent on low-cost financing. In a high-interest-rate environment, market expectations of its long-term profitability are directly compressed. Coupled with short-term profit-taking post-listing, early trading saw a surge to $209, followed by quick profit realization from short-term funds, causing the stock price to plunge to a low of $187, with wide intraday fluctuations.
The trading pattern shows clear chip exchange characteristics: early-stage primary market funds exit on rallies, while long-term institutional investors buy in batches between $190-$195. The scarcity of tradable shares amplifies intraday volatility. Technically, $200 forms a strong psychological resistance level, with short-term support concentrated between $187-$190. If this range is broken, the price could further decline toward the $180 mark; only if it re-establishes above $200 can short-term speculative sentiment be restored.
Operational suggestion: wait for a pullback to $180-$190, target $200; if broken, aim for $215; if not, $BTC reverse position.