Reddit's Degen Army Is Eyeing SpaceX's $75B IPO — And Credit Markets Are Quietly Screaming

Reddit's investing communities are split between two timelines right now: the galaxy-brained SpaceX IPO hype — potentially the largest in history at ~$75 billion — and the quiet horror show unfolding in credit markets. Per a Bloomberg deep-dive making the rounds, credit spreads are blowing out while the S&P 500 sits in minor pullback territory. That exact pattern has preceded bear markets three out of three times in the past 20 years. Cool cool cool.

The WSB crowd is also dissecting a juicy covered-call thread on $TSLA and $AMD, with the Seeking Alpha crew running collar strategies and citing 12-month price targets of $550–$600 on Tesla and ~$350 on AMD. Meanwhile, the S&P's forward PE has compressed to 19x even as earnings estimates are revised up 14% — which sounds bullish until you remember Brent Crude is sitting above $109/barrel and the Strait of Hormuz situation has 'supply chain nightmare' written all over it.

SpaceX going public would be the financial equivalent of a moon shot — literally — but if credit markets are right and equities are wrong, the best trade might be watching Elon's IPO roadshow from cash.