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Tom Lee: AI Selloff Driven by SpaceX Capital Raise
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
Fundstrat’s Tom Lee said the recent AI stock selloff reflects a pause after a strong rally rather than the start of a broader market correction. Speaking to CNBC, Lee argued that a major factor is SpaceX’s need to raise $75 billion, prompting investors to sell winning positions to free up capital. He said current weakness appears temporary, but he expects markets to face a more significant downturn later this year that could resemble a bear market.
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