Why I think the SPCE trade is not over

I’ve seen a lot of bearish posts since SPCE dropped from $8.80 into the $4s. Maybe I’m wrong, but I actually added today. For transparency: My original position was built around $3.3-$3.5. I took some profits on the way up. I added shares back today because I still think the risk/reward is attractive. My thesis isn’t that SPCE is suddenly worth $20. My thesis is that: SpaceX roadshow / IPO headlines are just getting started. SPCE is still seeing massive options activity. Short interest remains elevated. The