Let's talk about $SPCX again

I closed all my short positions around 151, but didn’t expect another major plunge this week

SPCX was still around 140 at the start of the week. After the Democrats won the midterm elections, the market began reassessing the political risks facing Musk’s companies. On Thursday, it briefly plunged to around 121!

The market is concerned not only about political ties, but also about possible scrutiny of SpaceX’s government contracts and regulatory hurdles to a potential merger with Tesla in the future

But Friday’s rebound was just as sharp, with the price returning to around 135 and ending the week down about 2%

Looking back on the week, the short direction was right, but the volatility in between was enough to make anyone question their sanity😂

My view remains cautious:

Political risk is currently reflected mostly in expectations; actual regulatory changes have yet to fully materialize;

And looking at the chart, although the rebound was swift, the price still hasn’t reclaimed its previous highs

I’ll continue to watch how it performs around 140. Until it gets back above that level and holds, I’ll view this rally as a recovery following the decline