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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

#201

Post by nixon_why69 »

EgregiousCube wrote: post #194
nixon_why69 wrote: post #182

Earlier quoted context omitted.

OP didn't arrange those goalposts, Musk and his friends did. It's the only company to get fast-tracked in this way while losing money.

He did, by arguing that a company that is fast-tracked for index inclusion has an obligation to prevent its stock price from following common post-IPO price patterns; and using "the only company to do so" as an allusion to a false trend.

No, Musk did, by arguing for fast-track index inclusion. He wasn't saying "you all will eat shit on this deal", he was promising exceptional returns.

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

#202

Post by flatline »

Octoth0rpe wrote: post #179
indoordin0saur wrote: post #147

Earlier quoted context omitted.

All these bans on building data centers on Earth are starting to make this wild proposition seem a little more rational.

Only a little, not a lot. It seems like the easy answer is still terrestrial with a heck of a lot more giving back. For example: - offering to pay some nominal subsidy for all households electricity bills in the region. - committing to only closed loop cooling - if the location is amenable, then providing free heating to neighboring buildings. - only building in blighted locations with no current economic value Other…

Every time there is an economic boom like this, you get unscrupulous actors coming in and extracting as much value as they can before the regulatory environment catches up. Yes, datacenters should be doing all these things, but that costs money, so they won't until there are local statutes and federal regulations that require them to do so. I expect the current situation to continue at a huge social cost for at least the next 5-10 years unless the bottom falls out of the AI boom before then.

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

#203

Post by infecto »

avaer wrote: post #180
infecto wrote: post #165

Earlier quoted context omitted.

What is this scheme he is getting away with? We all saw the numbers, it is an absolute absurd valuation. Like I said I would never make the bet but just because I don't like him, does not mean I will immediately call the scam card. Both can be true.

When this gets listed, your retirement savings will be obligated to support it whether it makes sense or not. If it tanks AI, or the broader economy, everyone will pay the price. No matter what, your money is going to Elon and friends. That's one of the schemes. There's plenty of other schemes too, like merging in Twitter and an AI company to confuse investors and inflate valuations. I'm not calling it a scam either.…

Why will my retirement savings be obligated to be part of it? No doubt it will be part of some indexes but I know for example mine it won’t.

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

#204

Post by alsobrsp »

ToValueFunfetti wrote: post #82
ornornor wrote: post #41

“Shocking nobody” I would add… This is an obvious Musk scam and anyone with financial knowledge called it as such ever since it’s been on the table. Why else lobby and change the NASDAQ listing rules for instance?

This is shaped like more-or-less every IPO I've seen. I think you have to wait for more of a collapse to claim dispositive evidence of a scam (or widen your claim to 'almost all IPOs are scams').

This is the main point. I bought Backblaze too early in its post IPO phase. It's a good company and I am a customer, but I am down $15k on the buy.

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

#205

Post by panick21_ »

defmetrix wrote: post #84

Ive never understood why so many people seem to cheer for Elon's companies to fail.

I was a fan of early Elon. He had many problems but he was overall good.

Then he turned full ultra right wing nationalist who engaged in science denial. Supported a president that is unquestionably racists and unquestionably fascists. And he made this clear by doing some Nazi salutes on top of that.

Then he used that influence to sell a completely false idiotic story that cuts to discretionary spending could 'fix' the budget deficit, like a complete idiot who had never watched 2 youtube videos about the US budget. Then used to slash and burn many beneficial programs while having no impact on the deficit what so ever.

He was supposed to be science and engineering progress driven, but then allied himself with ultra-right wing anti-scientific fascists who try to dismantle the whole education system in favor of at best best creationism or more likely nothing at all.

Not sure why its hard to understand. The only people who don't understand are ultra-right wing facists who don't understand why other people don't want to support ultra-right wing facists.

Does that explanation help?

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

#206

Post by infecto »

lorecore wrote: post #188
infecto wrote: post #105

Earlier quoted context omitted.

They're perfectly consistent. An absured valuation isn't evidence of fraud. Exceptional capital formation isn't fraud either. You're conflating overpriced, good at raising money and scam as if they're synonyms. I am curious how the absurd bank price targets will play out in the long-term and if there will be any repercussions but its hard to immediately jump to scam but I realize this is the favorite fan-fic for folk…

“Good at raising money” = scam. The valuation is based of fraudulent promises, just like Musk’s other scam, TSLA.

Definitely not and I think those types of opinions erode any rational discussion. It’s part of the problem with these discussions. There are extreme views that take a position that is not defendable but follow the hive mind for whatever side they are on.

I like to think in shades of gray and I am somewhere in the middle. Tesla? Amazing product, crazy valuation. SpaceX, some of the underlying products are indeed very valuable but the valuation is again out of this world, no pun intended. The market can stay irrational a lot longer than I can stay solvent. Would never take a short against Elon but I also would never invest into his businesses.

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

#207

Post by small_model »

grosswait wrote: post #171
fg137 wrote: post #65

Earlier quoted context omitted.

And I don't understand why a serious media outlet is covering this at all. The entire article could be irrelevant the next day. Without any actual, meaningful news coming out of the company (important financial update, new product, bankruptcy etc), stock price moves are only meaningful to day traders, not anyone who is doing serious investing. LA Times is making themselves the same as CNBC or sources you find on Yaho…

Because anti-Elon thinking is a thing that really seems to impact the judgement of some people and this kind of news really gets them to engage

Bingo, hacker news has this tendency hence this is on the front page.

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

#208

Post by Lerc »

It surprises me that this seems so consequential to observers. According to a quick search, around 40% of IPOs are below their IPO price at their one year anniversary.

I'm not invested in this myself, figuratively or literally.

I guess for any stock to rise, there have to be people thinking it will be worth more in the future.

I presume there is a way to mathematically determine how atypical the SoaceX stock is behaving. Does anyone have a reference to how this would normally be done?

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

#209

Post by eudamoniac »

nxm wrote: post #149
ornornor wrote: post #41

“Shocking nobody” I would add… This is an obvious Musk scam and anyone with financial knowledge called it as such ever since it’s been on the table. Why else lobby and change the NASDAQ listing rules for instance?

So I presume you made a lot of money shorting the stock if you were so confident?

Well I sure did. Not sure why you are writing this as a "gotcha". Buying puts is not some insane play. I gained about 85%.

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

#210

Post by oblio »

infecto wrote: post #145
oblio wrote: post #123

Earlier quoted context omitted.

What about Musk gutting government agencies (including the SEC) through DOGE? Or Musk pushing NASDAQ & co to fast track SpaceX into their indexes, to force institutional investors to buy SpaceX? Or about Musk & others weakening analyst protection through the current US administration cutting legal failsafes so that now basically every analyst on the market never releases negative share projections? At which point do…

I did not realize that is what we were discussing. Just because I don't like someone (I don't like musk) does not mean I will immediately jump to the harshest classification. I could never get behind the valuations, I don't generally like how he behaves but I also recognize that he historically has done a great job at financial engineering and serving as a hypeman, both can be true at the same time for me.

> I will immediately jump to the harshest classification.

The first points are just facts. Not "harshest classifications".

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