Every Stock Except Musk: When an Investment Becomes an Identity
Two proposed ETFs promise to leave Elon Musk out. They reveal how both admiration and dislike can become investment products.
Delete Elon Musk from your portfolio?
It makes sense. Far too much of the market has always been driven not by business logic but by virality and popularity. Yet Musk breaks records for the gap he opens between the two.
Wall Street is now planning two ETFs along the lines of 'every stock, just without Musk'. This is not an attempt to scrub the virality out of business logic. They ride the very same trend, simply from the opposite direction. Love Musk? Buy SpaceX. Loathe him? Buy our ETF.
Which brings us back to Musk’s central problem. He promises things that make no sense, yet often enough he actually manages to deliver. An electric car, a reusable rocket, satellite internet. So, since the entire debate around him moves through territory that business logic simply cannot contain, my modest suggestion to the wavering investor is to ask their own gut. How will you sleep better at night? Knowing you are invested in Musk’s stock, or knowing you are not?
If it helps you decide, at the time of writing in July 2026, the share sat 20 dollars below its 135-dollar listing price, and well below its peak.
