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.
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.
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.
Who could have seen that coming?
I mean really, why bother learning from history, it’s not that deep bro.
Lol, I bought myself some puts and shorts on spacex
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.
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.
yeah ai is going to wreck a lot of funds.
It was a grift? gasp
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.
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
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.
Joke’s on them, I can’t afford to save for retirement
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?
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
Put options have been printing nicely.
Yeah, as soon as Vanguard had to buy this shit it started crashing. It will probably go up by the time QQQ buys in.
https://finance.yahoo.com/markets/stocks/articles/spcx-etfs-index-funds-buy-050100941.html
The iShares Russell 1000 ETF (IWB) and Invesco QQQ Trust (QQQ) are expected to hold SPCX starting on June 29 and July 7, respectively.
Well, probably good news for people who own those index funds, since they won’t ride SPCX down, at least to some extent. Their worst case scenario would have been the peak holding until they bought in.
Wow. I expected the hype to falter and the price to collapse, but even I didn’t expect it to happen this quickly. I thought it would take another few months at least.
lmao. literally everyone that explicitly bought this stock to ride the wave deserves this. everyone who’s 401k os tethered to this stock doesn’t.
There’s 5 more days till the deadline for that
