The SpaceX IPO has attracted over $70 BILLION in retail orders alone. For perspective, SpaceX is raising $75 billion, meaning retail demand by itself is almost enough to absorb the entire offering. History is worth keeping in mind. • Saudi Aramco, the largest IPO before this, raised $29.4 billion and initially rallied before falling roughly 50% below its IPO price. • Alibaba followed a similar path. • SoftBank did too. The pattern is familiar: strong debut, peak euphoria, then a deep correction. Reports are even emerging of investors taking out bank loans to gain exposure to the SpaceX IPO. That level of enthusiasm is often a sign that expectations have become extremely elevated. Could SpaceX rally after listing? Absolutely. In fact, I think that’s the most likely short-term outcome. But if history repeats itself, the real opportunity may come after the excitement fades, not during it. I’ll happily wait for the dip rather than chase the hype. What about you?(Ali Charts)