Changes in US stocks | SpaceX (SPCX.US) bucked the trend and fell nearly 4%, and yesterday's stock price rebounded from a low point of about 35%

The Zhitong Finance App learned that on Thursday, SpaceX (SPCX.US) bucked the trend and fell by nearly 4%. Yesterday's stock price rose about 35% from the low on August 5, and is now reported at 140.67 US dollars. According to the news, hedge fund manager David Einhorn, who successfully shorted Lehman Brothers before the 2008 financial crisis and became famous, recently warned in a quarterly letter to investors that the space exploration technology company SpaceX's sensational initial public offering (IPO) may be remembered by the market in the future as a warning sign that the stock market is approaching a speculative peak.

According to the letter obtained, Einhorn's Greenlight Capital (Greenlight Capital) harshly criticized SpaceX's valuation of up to 1.75 trillion US dollars after its June IPO, believing that investor enthusiasm has seriously deviated from traditional measurement standards of value. In his letter, Einhorn wrote, “As for the $1.75 trillion valuation at the time of the IPO, we don't know if it should be described as a large-scale interpretation of the 'memeization' of the market, the latest irrefutable proof of market 'failure', amazing manipulation of the IPO process, or yet another humiliation of value investing.”