Scott Galloway

And if you're holding this stock at $200—

I mean, it seems like that should be top of mind.

I mean, what kind of impact do you think those lockup expirations will actually have on this?

Yeah, 100%.

Final thing here, SpaceX just announced a $60 billion deal for Cursor, which is this AI coding startup.

They had announced that there was an option to buy previously, so we're getting a little bit of deja vu, but it's now happened, and they will be paying in stock

which I'll give credit to SpaceX, great move, highly inflated stock price at this point.

That's really effective currency in the M&A market.

Does that acquisition change any of the math on your valuation?

Does it change your perspective at all or not?

Nicholas Owens, equity analyst for Morningstar.

This will be very interesting to see how this stock trades over the next few weeks and months, and I'm sure we'll be having plenty more conversations.

Thank you for joining us.

Thank you.

It's official.

The stock market has entered crazy town.

SpaceX is now as valuable as Amazon, despite generating less revenue than Macy's.

And all over Wall Street, I'm hearing things about how the fundamentals don't matter anymore with SpaceX because this is a once-in-a-generation company that will save humanity, exactly the kind of rhetoric that has fueled previous stock market bubbles.

But it isn't just SpaceX.

the entire stock market is now reaching dot-com levels of euphoria.