me_irl

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Me_irl (lemmy.today)

submitted 23 hours ago by sanitation@lemmy.today to c/me_irl@lemmy.world

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[–] Not_mikey@lemmy.dbzer0.com 3 points 17 hours ago* (last edited 16 hours ago) (1 children)

too much concentrated wealth is sloshing around looking for the next big thing.

IDK about concentrated, I always figured Tesla and now SpaceX was more retail investors who are in elons cult.

Larger funds would probably steer clear of them because the fundamentals make no sense. Meanwhile bill in Oklahoma has no idea what a p/e ratio is but he thinks he's helping Elon fight the woke mind virus by buying SpaceX shares.

[–] lefaucet@slrpnk.net 4 points 11 hours ago* (last edited 11 hours ago)

Unfortunately a lot of larger funds buy or follow S&P500. Tesla is currently ranked in 9th place on the 500 list, weighing in at 1.77% of the index.

What scares me is like the top 10 companies on that are resting heavily on AI. Like 30% of the S&P is gonna get hit hard if the AI bubble pops

https://stockanalysis.com/etf/spy/holdings/