The bond market’s assessment also jibes with SpaceX’s stock. It’s a profitless, non-dividend-paying, one-person-controlled, empire-building project trading at more than 100 times sales, about 30 times the valuation of the S&P 500 Index. That’s the very definition of a junk stock.
Original link: https://www.bloomberg.com/opinion/articles/2026-07-02/spacex-is-junk-that-s-what-the-bond-market-says
It really wasn’t that hard to see the SpaceX ipo was mostly a scam. And yet there are post after post of people losing their entire fortune, house, future after investing in this sow. Just blinding stupidity to invest in any company run by a ketamine addict who should be in prison over that DOGE bullshit.
I know a guy who bought in to it. I asked him recently how thats going for him. He is underwater and bag holding… the hype for many retail investors was real. Glad I didnt jump in.
Specifically Elon Musk is an irresponsible ketamine addict. Most CEOs just stick to a cocaine addiction which leaves them moderately competent.
It’s at $162 right now. Above where it IPO’d at. How are people losing their fortunes? I’m not defending spaceX or Elon (fuck that guy). But how are people losing a fortune exactly?
I know it’s a scam but honestly most of the market feels that way right now anyway.
Day 1: “Let’s see how this goes.”
Day 2: “It’s up 20%? I can’t miss out on this gravy train!”
After drop: “It’ll go back up for sure.”
I don’t know how fast it was before it peaked, but not everybody bought right away. Or people added more money after they saw it going up.
I bought right after the IPO at about $150. (A whole THREE shares lol) I watched it jump to $~220 and managed to sell at $215. Now it’s just a spectator sport.
The IPO was 135, opened at 150 and closed on day 1 at 160.95 (but went up to about 175 briefly), closed day 2 at 192, then 201, and then it started coming back down.
So if you bought in on day 1 or on day 6 onwards, you’re probably doing fine, but anyone on day 2-5 and they’re hurting.
Everyone will probably be under by the time the insiders can start selling shares though.
Edit: Nasdaq 100 adds it tomorrow, so there might still be another pump until the insiders sell.