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Someone please wake me up if this is a fever dream.
It's crazy that Musk is worth a trillion dollar and the 2nd richest person is just 200 Billion dollars. What's more crazy is that the revenue in no way justifies the trillion dollars valuation of spaceX!
It's crazy that Musk is worth a trillion dollar and the 2nd richest person is just 200 Billion dollars. What's more crazy is that the revenue in no way justifies the trillion dollars valuation of spaceX!
Even if it drops to 1/2 its IPO price ($855B valuation) that still massively overpaying for it. What do they think is gonna come from this SpaceX + Twitter + XAi + Cursor amalgamation? Sexbot agents vibe coding on Mars?
Even if it drops to 1/2 its IPO price ($855B valuation) that still massively overpaying for it. What do they think is gonna come from this SpaceX + Twitter + XAi + Cursor amalgamation? Sexbot agents vibe coding on Mars?
They are buying their time (6 months) before being included in the S&P500s, causing another inevitable surge in forced "demand".
I agree with your statement overall.
Even if it drops to 1/2 its IPO price ($855B valuation) that still massively overpaying for it. What do they think is gonna come from this SpaceX + Twitter + XAi + Cursor amalgamation? Sexbot agents vibe coding on Mars?
It’s worth noting that this is nothing new. I’m reminded of Virgin Galactic, another “space company” that was heavily speculated on. Predictably, insiders like Richard Branson himself sold a large number of shares (well into the millions of dollars) ahead of the inevitable “dump” where the share price fell around 75% in a matter of weeks. Virgin Galactic (SPCE) entered the Nasdaq via SPAC - Special Purpose Acquisition Group - essentially a company whose sole purpose is to acquire a private company, thereby effectively making the company public. Why wouldn’t Virgin Galactic just go public? Why go through a SPAC? The short answer is “to bypass regulations.”
OpenInsider is an excellent website that makes it easy to see when insiders buy or sell a stock, and the most common pattern is insiders dumping their shares in overvalued companies. We saw it when Zoom and Crispr and a few others shot up several hundred percentage points during COVID. C-suite and board members made out like bandits. Those weren’t even SPACs, those were just companies that people were foolish enough to speculate on.
Finally I want to bring attention to Robinhood, the stock trading platform that eliminated commission on trades from all brokerages - Schwab, Fidelity, Merrill Lynch, et al- by making it incredibly quick and easy (and free) to buy and sell stocks. They opened this Pandora’s Box, though I suppose it was bound to happen eventually- brokerages charged $7 per trade (sometimes more) and obviously for the college student who wants to throw $20 at Amazon stock… losing $7 in and then $7 again on the way out makes no sense. Now for anyone giving Robinhood the benefit of the doubt- their evil was (I think) absolutely confirmed when they unveiled a new feature- you can now trade OPTIONS with your retirement account. Options are essentially gambling, so to enable people to throw away their retirement on gambling is truly vile.
Even if it drops to 1/2 its IPO price ($855B valuation) that still massively overpaying for it. What do they think is gonna come from this SpaceX + Twitter + XAi + Cursor amalgamation? Sexbot agents vibe coding on Mars?
Even if it drops to 1/2 its IPO price ($855B valuation) that still massively overpaying for it. What do they think is gonna come from this SpaceX + Twitter + XAi + Cursor amalgamation? Sexbot agents vibe coding on Mars?
They are buying their time (6 months) before being included in the S&P500s, causing another inevitable surge in forced "demand".
It's crazy that Musk is worth a trillion dollar and the 2nd richest person is just 200 Billion dollars. What's more crazy is that the revenue in no way justifies the trillion dollars valuation of spaceX!
On paper. The actual number is how much cash banks will lend him using his SpaceX holdings as collateral. Maybe that is a trillion dollars. Smarter money though? They know that if things go south and they need to collect that collateral, in that situation SpaceX will be worth a lot less than a trillion dollars.