The Elon Bump: How Wall Street's Faith in Musk Fuels a Bubble The SpaceX IPO has been a wild ride, with Thursday's unlock of nearly a billion shares promising to bring even more drama to the market.
Beneath this story lies a more insidious trend: Wall Street's collective infatuation with Elon Musk. Musk's success extends far beyond Tesla, where he is often credited with redefining the electric car industry.
He has tapped into an essential aspect of human psychology – our tendency to follow charismatic leaders and bet on their vision.