SpaceX stock slipped under $135 on Wednesday — below the price it went public at just last month. Rockets go up, shares go down; the universe has a sense of humor. * Bloomberg's headline: "SpaceX Falls Below IPO Price for First Time as Hype Fades." Read it twice. The hype "fades" — all by itself, like a suntan. No agent, no author, no forwarding address. * So, some quick archaeology. Last month, while the hype was allegedly out there hyping itself, Bloomberg ran: "SpaceX IPO Raises $75 Billion in Biggest Debut of All Time." "SpaceX Surges for 2nd Day to Add $412 Billion in Value." "SpaceX IPO Draws Over $100B in Retail Orders Ahead of Record Debut." There was a graphics package sizing the debut against history. There was a TV segment titled "SpaceX Makes History With Biggest-Ever IPO." * That's not weather reporting. That's a bellows. * Bloomberg's own newsletter went one better this week: SpaceX is "So Far Failing to Live Up to Wall Street's Hype." Wall Street's hype. Wall Street doesn't own a newsroom, folks. You do. Retail investors didn't send in a reported $100 billion of orders because they curled up with the prospectus of an unprofitable rocket company — they read the coverage. * For contrast, the BBC handled the same number with the enthusiasm of a parking ticket: "SpaceX share price drops below stock market debut." No hype character, no fading, no mystery. A price. It dropped. The end. * Stocks fall; that's allowed. We'd just like the obituary for the hype to mention who kept it on life support. It didn't fade. It got edited.