Trader Killa Closes Half of SpaceX Position, Citing Overvaluation on June 16

According to trader Killa on June 16, he has closed half of his SpaceX position, describing the company as overvalued from a fundamental perspective. However, Killa noted that momentum and hype remain strong, with the limited float narrative proving effective, and the squeeze dynamics unfolding as anticipated. When SpaceX went public, Killa had warned retail traders against shorting the stock, cautioning against betting against major institutional investors like BlackRock, Fidelity, and Vanguard.
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