Burbidge: SpaceX FOMO Driving Stock Higher for Now
Bloomberg 2026-06-24 06:08:30
Context: SpaceX shares rebounded on Tuesday, ending a three-day selloff that had erased over $600 billion from the company's market value. The rally is attributed to FOMO, or fear of missing out, among investors. This development comes as SpaceX, backed by Elon Musk, continues to make significant moves in the tech industry.
Key Facts
- SpaceX shares ended higher on Tuesday, snapping a three-day selloff that wiped out more than $600 billion from the company's market value.
- The Elon Musk-backed company raised $25 billion of bonds in its debut offer, making it the latest megacap tech firm to tap investors for its AI expansion.
- Eileen Burbidge, Founding Partner at Passion Capital and Founder of NFG Ventures, spoke to Bloomberg’s Abeer Abu Omar on Horizons Middle East and Africa to explain the rally behind SpaceX.
- The rally in SpaceX shares is driven by FOMO, or fear of missing out, among investors.
- SpaceX's bond offer is part of its efforts to secure funding for its AI expansion, a move that aligns with the company's growing ambitions in the tech industry.