US Stock Market Move | SpaceX (SPCX.US) fell nearly 4% against the trend, rebounding about 35% from yesterday's low.

On Thursday, SpaceX (SPCX.US) fell by nearly 4% against the trend, with its current price at $140.67, which is about a 35% increase from the low on August 5. In terms of news, hedge fund manager David Einhorn, who gained fame for successfully shorting Lehman Brothers before the 2008 financial crisis, recently warned in his quarterly letter to investors that the highly publicized initial public offering (IPO) of SpaceX may be remembered as a warning sign of the market nearing a speculative peak. According to the obtained letter, Einhorn's Greenlight Capital criticized SpaceX's valuation of up to $1.75 trillion after its IPO in June, arguing that investor enthusiasm has become severely detached from traditional value metrics. Einhorn wrote in the letter: "Regarding the $1.75 trillion valuation at the time of the IPO, we don't know whether to describe it as a scaled manifestation of the market's 'memeification', the latest evidence of 'market failure', an astounding manipulation of the IPO process, or yet another humiliation for value investing."