The Globe and Mail reports in its Saturday edition that if you're looking for evidence that the stock market has lost its mind, a good place to start is by reading last week's flood of adoring SpaceX reports. The Globe's Ian McGugan writes that the postinitial public offering "stay quiet" period has ended. SpaceX underwriters rushed to issue reports that lavished "buy" and "outperform" ratings on Elon Musk's attempt to conquer the solar system. Anyone familiar with the market realizes these recommendations aren't meant to be taken literally. They're just Wall Street theatre, a way for underwriters to demonstrate their unswerving loyalty to Mr. Musk and SpaceX ($145.30) (all figures U.S.). Deutsche Bank, in a note entitled "Apex of Civilizational Ambition," put a one-year price target of $255 on the stock and added that the company is "bending the arc of history to make humans multiplanetary." Not to be outdone, Citi pasted a $200 target on the stock, adding even that gain is just "a milestone along the path to $900+ which becomes realistic assuming key engineering achievements are demonstrated at scale." In reality, SpaceX is a money-losing company with a hodgepodge of speculative bets that may or may not work out.