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As SpaceX Falls Back To Earth, Bear ETFs Reach For The Stars
The pullback follows SpaceX’s announcement that it will acquire AI coding startup Cursor in a $60 billion all-stock deal, resulting in roughly 3.4% dilution for existing shareholders. The transaction prompted Morningstar to trim its fair value estimate for the stock to $62 from $63, citing dilution concerns, even as it noted stronger AI monetization could support upside.For ETF issuers, the emergence of both long and short SpaceX-focused products reflects the company’s growing importance in the market. For investors, however, the strong performance of bearish ETFs this week serves as a reminder that SpaceX’s debut has entered a new phase—one driven less by IPO enthusiasm and more by questions about valuation, execution, and the sustainability of its rapid rise.SpaceX’s size and prominence have made it difficult for thematic fund managers to ignore. For many investors, the company has become the flagship holding of the commercial space industry, meaning sharp swings in its stock price c
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