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SpaceX stock erases all its gains and slides below IPO price in intraday trading

latimes.com

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Re: SpaceX stock erases all its gains and slides below IPO price in intraday trading

#13

Post by vv_ »

paoliniluis wrote: post #3

The IPO was meant for the VCs to cash out as all fundamentals were completely irrational, but seems like no one cares about cash flow and profitability anymore during QE times. Dumb money will keep being dumb I guess

If no one cared about cash flow and profitability wouldn't SpaceX stock go up instead of down?

Re: SpaceX stock erases all its gains and slides below IPO price in intraday trading

#14

Post by xxs »

glasffordd wrote: post #9

Typical IPO pattern. Hyped IPOs shoot up and then correct, some correct more than others. Traders take their profits. Nothing new here, just bigger headlines because it's a big name. The bigger the name, the bigger the hype.

Not really, it got turbo charged to Nasdaq which involves some involuntary investments.

Re: SpaceX stock erases all its gains and slides below IPO price in intraday trading

#15

Post by mothballed »

If the IPO can't find institutional buyers at the price and has to resort transferring the initial shares directly to the public, safe to assume they've hyped the public into being the bag holder. What SpaceX did is rare for a reason.

Re: SpaceX stock erases all its gains and slides below IPO price in intraday trading

#16

Post by budsniffer952 »

lapcat wrote: post #8
pfisherman wrote: post #4

My understanding is that an ideally priced IPO should not move much from the opening price in the near term. If it pops it means they left money on the table. If it drops, then I am not sure what the implication is exactly? Now I think SpaceX is massively overhyped, but is the share price returning to IPO opening not just a sign that the banks accurately estimated something?

> an ideally priced IPO Ideally priced from the perspective of pre-IPO investors. This seems like an argument for outside investors not to buy IPO stock.

There is no should or should not.

Look at the financials and the price, and you as an individual get to determine if it's worth buying (or selling).

Re: SpaceX stock erases all its gains and slides below IPO price in intraday trading

#19

Post by mothballed »

vv_ wrote: post #13
paoliniluis wrote: post #3

The IPO was meant for the VCs to cash out as all fundamentals were completely irrational, but seems like no one cares about cash flow and profitability anymore during QE times. Dumb money will keep being dumb I guess

If no one cared about cash flow and profitability wouldn't SpaceX stock go up instead of down?

People cared after the IPO but initially in far less informed circles I constantly heard from lower sophisticated investors bragging about how they'd been allocated X shares like they were Pokemon trading cards they managed to snag. They weren't very sensitive to the price, only to brag to their friends they had snagged them. After the shiny wore off and no one cared about how cool they were, they sold them.
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