(https://www.marketwatch.com/story/spacex-fomo-is-officially-over-space-stocks-across-the-board-are-getting-punished-77234fe8?mod=mw_rss_topstories) The sector priced in a permanent AI-powered demand supercycle with margins expanding forever. The moment that thesis got questioned, the entire valuation multiple compressed at once — which is what happens when growth is the *only* thing holding up the stock price.