I'm not convinced the recent selloff is purely a "SpaceX liquidity drain" story. Yes, a mega IPO can attract capital and temporarily pressure risk assets, but interest rates, valuations, earnings expectations, and geopolitics still matter far more for the broader market.
If the IPO prices smoothly and demand is strong, some capital could rotate back into oversold growth names, creating a relief rally. The question is whether that rally lasts beyond a few sessions.
As for SpaceX itself, I rarely rush into IPOs. The first few weeks are often driven more by sentiment and positioning than fundamentals. I'd rather miss the first 10-20% than buy into peak hype and face a sharp pullback.
My approach: keep a watchlist ready, add selectively to quality names that were sold indiscriminately, and let the market show its hand after the IPO. Sometimes the best opportunity isn't the IPO itself, but the collateral damage created around it.
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