Wu Blockchain (@WuBlockchain): Tom Lee: Chip sell-off primarily driven by positioning ahead of SpaceX IPO
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Tom Lee: Chip sell-off primarily driven by positioning ahead of SpaceX IPO On June 10, 2026, Fundstrat Managing Partner Tom Lee @fundstrat discussed recent equity market movements in a CNBC interview. He states that the ongoing sell-off in chip stocks is primarily driven by institutional funds liquidating recent winners to raise cash for the upcoming $75 billion SpaceX IPO. He believes this is a healthy consolidation and the sector's charts are not completely broken. As a contrarian, Lee leans against the skepticism that the SpaceX debut marks a market top, arguing that the dip will be bought and the strong tech-led uptrend will continue. Looking ahead, he views 2026 as an overall positive year, though he anticipates a potential pullback later driven by the market testing new Fed Chair Kevin Warsh, IPO lockup expirations, and looming energy shortages.