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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

#261

Post by Zigurd »

Balgair wrote: post #154

Honest question here: What does this mean for Anthropic's OPenAI's rumored IPOs?

Over in the past three months I've posted two polls on HN asking if one or both of the OpenAI and SpaceX IPO's would fail, with the definition of failure being dropping below IPO price by the end of the year, or the IPO failing altogether. The votes were against both IPOs succeeding. Albeit with a small sample, the results indicated skepticism early on.

Anthropic could go either way. My guess is that if the financials aren't Enron scale flaming garbage, they'll be fine.

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

#262

Post by kmfrk »

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').

It got particularly bad with SPACs in the last few years.

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

#263

Post by rtkwe »

rchaud wrote: post #240
rtkwe wrote: post #218

Earlier quoted context omitted.

Yeah that plus wrapping the xAI dogshit debt inside SpaceX is where it gets really scummy. At least the S&P500 didn't (yet) succumb and lower their requirements and that's where most of my investment money is parked.

not to mention hiding all the Twitter losses inside of xAI because AI in general loses lots of money.

I had completely forgotten they'd already wrapped xAI around Twitter. That's getting to turducken levels of nested bad companies.

There's also the Tesla (potential) self dealing where SpaceX bought a bunch of Cybertrucks and appears to be leasing them to employees for cheap as a perk.

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

#264

Post by root_axis »

CrimsonRain wrote: post #90
epistasis wrote: post #81

Earlier quoted context omitted.

What you describe is exactly a scam: he somehow convinced you that he's not motivated by wealth! That alone is clearly a scam, the idea that Musk is not motivated by huge amounts of wealth and high valuations is just implausible considering g his behavior at every single turn.

What is he doing with all that wealth? Taking lavish vacations? Buying luxurious yacht? Buying islands and making bunkers?

He spent $300 million in cash (more than any individual donor in history) to help elect the current president.

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

#265

Post by root_axis »

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

The "anti-Elon thinking" comes from the things Elon says and does.

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

#266

Post by marricks »

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?

> the share price returning to IPO opening not just a sign that the banks accurately estimated something

I mean who knows where it will end up by the end of the year. Meme-stock-hype train could continue or it could reasonably crash far further back down to earth.

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

#267

Post by sleight42 »

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?

Doesn't need to be said but "Thank you for being the top comment." Shocking nobody, indeed.

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

#268

Post by oblio »

gwerbin wrote: post #258
oblio wrote: post #213

Earlier quoted context omitted.

LOL. I'm not American, I chose Aramark at random because... ... Aramark has the same revenue as SpaceX: https://companiesmarketcap.com/largest-companies-by-revenue/... You've just told me that "the financials of an incompetent commercial food service provider" are better than those of SpaceX. Aramark is profitable and SpaceX is wildly unprofitable[1] :-))) * * * [1] Almost nothing SpaceX does points at SpaceX scaling…

Lol I meant "incumbent", that was a STT typo. But yes I get the point. My own point is that even a good-faith honest IPO for a spaceflight company probably won't look anything like Aramark. It's always going to be a bet on technology, not a share in the predictable profit stream of a boring company that serves pizza in school cafeterias.

I would > agree with you if about 90% of their valuation wouldn't be based on them selling themselves as primordially as an AI company. "$28tn total addressable market", "data centers in space", etc.

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

#270

Post by d3rockk »

Seb-C wrote: post #197
pfdietz wrote: post #69

I think SpaceX has a great future ahead of it. I didn't buy a single share.

Same here. It's such a shame because I always wanted to invest in SpaceX (even despite it's CEO), but now most of the money would go to AI stuff rather than space exploration, so I'm out.

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