Just 10 days after the company’s blockbuster IPO, buyers of its initial public shares are in the red.
Shares of Elon Musk’s SpaceX tech conglomerate plunged 16% Monday to close below their price on June 12, the date of the company’s massive initial public offering.
It was its third-straight trading day of declines for a company that just 10 days ago orchestrated the largest IPO ever.
At Monday’s closing price of $154.60, the average investor who bought SpaceX shares on the open market after its debut has now seen most of their gains disappear, market data shows.
Who could have seen that coming?
Oh no, how terrible for them.
I super duperydo hope the people that supported the Nazi trillionaire Elon Skum get their money back!!!The overwhelming majority of individuals in the US with 401ks were forced to buy SpaceX stocks through target date funds, mutual funds, and indexes, because 8 different funds have >10% of their entire stock as SpaceX, and 4 of those have >20% of their stock as SpaceX. This was all a fucking grift and Americans who have done what they were supposed to by saving will pay the price. Fuck Elon Musk sideways, I will pop a bottle of champange when he dies and celebrate it as a yearly holiday.
Thank jeebus that the S&P decided to maintain sanity and not change their standards to allow them in the index early. Shame that target date funds bought into the hype.
Pretty sure that date to buy has not happened yet. It wasnt a day 1 thing, it was something like inclusion after 15 days.
People are trying to front run it, to make profit when it happens.
Edit
https://finance.yahoo.com/markets/stocks/articles/spcx-etfs-index-funds-buy-050100941.html
Hasn’t happened yet.
Yeah, I too will buy and pop a bottle of champagne if Elon muskrat dies
Joke’s on them, I can’t afford to save for retirement
this is what scares me. those funds have to have a clause to not buy anything that does not use a traditional stock setup of voting common stock and at most the premium stock that can’t vote although im not sure preferd stock should have ever been a thing.
I mean really, why bother learning from history, it’s not that deep bro.
It was a grift? gasp
That’s OK people buying stock in a near worthless company should have expected this.
its not near worthless but that stock setup is wack.
More than 90% of the value is because of AI, and XAI is shit. The XAI is so shit it will probably drag down the real value SpeceX has from rocket government contracts and Starlink.
So yes it is near worthless, and throwing 60 billion from the IPO out on Cursor, means most of the 80 billion they got is gone too.yeah ai is going to wreck a lot of funds.
The 60b to cursor was all stock, they didnt lose a penny of their cash.
Yes they did, stock is not cash, it’s assets.
If that assets needs to be turned into cash, they could lose. and although the stock is valued at 60b there is no way Cursor is worth that.
Lol, I bought myself some puts and shorts on spacex
I knew I should’ve fucking shorted it
Can you short an IPO? You’re prohibited from selling for the first month or so, isn’t it?
You could have shorted it with options the Tuesday after the IPO.
Ive wanted to do it on many IPOs after the the first spike, which in this case was when they hit 215+, as they all follow this pattern but im never confident enough to do it since the market is whack.
But id have made money every time I wanted to so far if I did.
Edit: it’ll almost certainly go down more as the insider lockout period ends as well.
Yeah you right about the specifics on the market rules, I still maintain that if it could have been shorted it should’ve been.
I think you’re the reason that rule exists haha
It’s honestly too early to say SpaceX will fail. I hope it does poorly enough that they remove Elon, but realistically that will never happen.
When he offered to buy Twitter for a massive amount everyone thought he was an idiot who was wasting his money, and we all know how that turned out. Even in spite of the AI bullshit SpaceX is hiding, I’d say there is a chance they fluke through it and end up massively positive.
They can’t remove him, he owns the majority of voting shares.
They would need to do multiple more offerings to dwindle that down, and id be shocked if he ever gave up enough shares to be at risk.
They are one of a few that can put stuff in low orbit.
And one of 2 that can get to higher orbits.
They will have plenty of launches.
Honestly, if it was just SpaceX + Starlink as the IPO, I might be interested in picking some up. A healthy business is good business, especially when it is useful to society.
Grok is a poison pill, because it is a bad AI that isn’t in a healthy place. Quite bluntly, Chinese offerings are superior to their American counterparts, because they aren’t poisoned by bad economics and are very performant on local hardware. On top of that, the IPO is suspect because it circumvented the rules that were intended to protect investors from bad outcomes.
All in all, this thing stinks like hell, and Musk is a fish’s head.
Don’t panic ,its fine
$154.60 is still massively inflated from what the actual value should be.
Which is somewhere near $20
Haha that’s still to much. The value is based on XAI hype, and XAI is really next to worthless. They are doing everything after everybody else did it, and then they do it worse. It’s so bad they have no customers, and instead sell their server capacity to other AI companies. And the value of that will diminish fast, as better and cheaper hardware is developed.
Assuming they stop bleeding money.
Nothing tax payer money can’t fix. Somehow. Just you watch.
I mean, Tesla got a huge boost from the government, too, so…
Just wait until the nesting shares expire. It will crater.
see virgin galactic chart lol
Wow that is only worth 3 ‰ of what it was 5 years ago. 🤣🤣🤣
Most of spacex is privately owned, there is much more demand than real supply of the stock so it’s overvalued. As more former SpaceX employees current private investors and short term investors sell the price will slowly go down.
Keep tumbling. Then fold Tesla and all his stupid other companies into it and bankrupt it all.
Fuck musk and anyone that supports this filthy grifting pile of limp dicked shit that resembles a human being.
Nationalize it.
Don’t bother, snipe the talent that is actually competent and let the sites rot. Then give Nasa the resources to build their own manufacturing capacity.
You missed the change to add the qualifier “Nazi” to that, so let me correct that real quick: Fuck Musk and anyone that supports that Nazi.
Lol, lmao even
Oh… who could’ve possibly seen that coming?!
It’s almost as if the price was artificially pumped and the stocks are now being dumped in order to take advantage of the unscrupulous…
