A $100 SpaceX share price may sound “cheap,” but Morgan Stanley says it would mean the market is valuing its AI upside at exactly $0.
That’s the kind of signal traders often miss when fear takes over. In crypto, we’ve seen the same movie with
$BTC ,
$ETH , and AI-linked tokens: price falls first, then everyone suddenly decides the future is worthless.
According to Morgan Stanley, the recent selloff in SpaceX-linked exposure has pushed the stock toward a level where investors are only paying for the obvious business, not the optionality.
$SPCX was down 1.39%, but the bigger lesson is not the daily move. It’s how markets compress narratives when liquidity dries up.
Veteran traders know this from past cycles. In bear phases, the market prices innovation like it will never matter again. Then, when sentiment flips, the same “worthless” optionality becomes the reason people chase late.
The lesson: valuation is not just about today’s revenue. It’s also about what the market is refusing to price in. When AI exposure gets valued at zero, that can be either a warning sign or an opportunity, depending on whether the core business can survive the cycle.
Where do you think this goes from here?
#CryptoMarkets #AI #TradingMindset