"Historically, bursts of giant money-loosing IPOs have often clustered near market peaks, and SpaceX fits the profile. On top of that, the S&P 500's PE ratio now sits near 40, a level it's only touched once before during the dotcom bubble."

… ing to signal a market top in the middle of an AI bubble and that private investors are using this as a way to cash out before the entire stock market comes crumbling down. So, are they right? Well, Yahoo Finance actually laid out two really good arguments. If you believe the market's going down, well, the data says that you'd probably be correct. Historically, bursts of giant money-loosing IPOs have often clustered near market peaks, and SpaceX fits the profile. On top of that, the S&P 500's PE ratio now sits near 40, a level it's only touched once before during the dotcom bubble. Bank of America warns that the S&P 500 is overvalued on 17 of the 20 valuation metrics, with eight of those metrics exceeding the levels we saw during the peak of 2000. However, as pessimistic as all of this might sound, keep in mind that the exact same Bank of America checklist hit 70% back in February of 2025 when the S&P 500 was sitting around …