Odaily Planet Daily reports: Tom Lee, partner and head of research at Fundstrat, known as the "Oracle of Wall Street," stated in a client research report released on Tuesday that SpaceX's upcoming entry into the capital markets is a major catalyst for recent volatility in the U.S. stock market.
Tom Lee analyzes that the core logic behind the current weakness in U.S. equities is clear: market participants are actively selling their existing stock holdings and accumulating cash to participate in this major IPO, and the capital diversion effect continues to intensify. However, he also believes that once SpaceX’s first day of trading performs strongly, market risk appetite will rebound, driving a recovery in other stocks. This round of SpaceX’s IPO has been met with strong market enthusiasm, with oversubscription levels continuing to rise. According to Fundstrat, the current subscription multiple has reached 4x, and based on current market trends, the oversubscription ratio could rise to 10x by Friday, the official listing date.