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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

#131

Post by mothballed »

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?

IDK what the calculation is for rich people, but for middle class who had that many children by that many women I don't think the state would leave them anything to survive on other than maybe prior savings.

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

#132

Post by simiones »

defmetrix wrote: post #84

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

People generally hate to see scams stealing money from naive marks. Both SpaceX and Tesla are obvious scams at anything close to their current valuations (despite having real, functional businesses in there! ), that Elon keeps pumping up with ever more ridiculous claims (50 million humanoid robots by 2026/7! Tesla Roadster out by 2024, pre-order now! Starship point-to-point for business travel by 2030! Datacenters in space!).

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

#133

Post by epistasis »

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?

Having the wealth, of course, the glory of being the richest man to have walked earth.

Spending it is not the goal, having the wealth is.

Remember the ridiculous Tesla compensation package that he demanded? That's about having wealth, it's not about spending it.

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

#135

Post by cmrdporcupine »

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

Since when are we still in "QE times"?

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

#136

Post by robot_jesus »

rob74 wrote: post #121
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?

Yes, it is an obvious scam, but as far as I understood, it was a scam that was guaranteed to succeed: SpaceX is listed on Nasdaq and added to the Nasdaq index after only two weeks thanks to the rules Nasdaq changed at SpaceX's behest, so all funds that track Nasdaq have to buy SpaceX shares, so the prices were going to explode automatically because they made sure there will not be enough shares available. What went w…

There's a lot to unpack here, but a few thoughts. SpaceX wasn't added to the Nasdaq until two days ago, which is right around the time the stock was reaching it's current lows. Doesn't make sense to say that they prices exploded because of that.

Second, I don't know the details but it's extremely unlikely that most SpaceX folks have been able to sell any shares. Typically there's a 90–180 restricted window where pre-IPO holders are not allowed to sell.

The limited float could theoretically drive up, but as I noted, it wasn't added to the Nasdaq 100 until two days ago, so it's not something we can really attribute to that.

Btw, I loathe Elon Musk as a human, but am just clarifying some facts.

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

#137

Post by snowbantrobus »

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?

[flagged]

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

#138

Post by tw04 »

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').

Really? Which other IPO involves a company acquiring a completely unrelated company just before IPO in order to bail the founder out of a bad investment?

Can you name even one example in the last 50 years?

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

#139

Post by two_handfuls »

eole666 wrote: post #61

Maybe this has to do with the technical unfeasibility of sending human to Mars and back to earth while keeping them alive ? Throwing billions at it won't make it happen magically.

It doesn't, because SPCX isn't a space company, it's an AI company with a space hobby. That's what the IPO paperwork says at least.

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

#140

Post by therobots927 »

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').

Most IPOs don’t put up 5% of the float for sale. Usually it’s closer to 30-60%.
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