SpaceX sheds $400B in market value as debut rally hits reverse • Hacker News Board

Re: SpaceX sheds $400B in market value as debut rally hits reverse

#81

Post by zulux » Tue, Jun 23, 2026, 2:52 PM UTC

tpm wrote: post #80

qq66 wrote: post #41

Earlier quoted context omitted.

One theory is that Elon Musk ends up being able to build AI datacenters faster and more cost effectively than anyone else, which seems plausible given the success of Tesla Gigafactories.

A few Chinese companies build both batteries and cars faster and more cost effectively than anyone else including Tesla though.

something is going on with those Chinese companies if the equivalent Toyota costs twice as much to produce.

It could be close-to-free labor, subsidies, or a myriad other things... but it's something.

Re: SpaceX sheds $400B in market value as debut rally hits reverse

#82

Post by potsandpans » Tue, Jun 23, 2026, 3:00 PM UTC

gymbeaux wrote: post #16

kingstnap wrote: post #2

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?

The plan is simply for insiders to offload their bags (overvalued shares) to retail investors, like the folk who frequent the wallstreetbets subreddit and do all their “investing” on Robinhood. This speaks to the larger trend of the lower and middle class apparently giving up on any plans to retire- and it’s understandable as the federal minimum wage has never been so disconnected from the cost of living, plus inflat…

Most if not all brokerages allow you to do that. I just opened up my fidelity and etrade to check.

That doesn't make it right perse, but your moralisation at the end becomes more weak. Robinhood is only as "truly vile" as all of wall street.

And anyway, options can play a decent role in financial strategy, most retailers don't use these instruments appropriately. To quote The Big Short, "this is wall street dr bury, if you offer us free money we're going to take it."

Re: SpaceX sheds $400B in market value as debut rally hits reverse

#83

Post by [deleted] » Tue, Jun 23, 2026, 4:24 PM UTC

DoesntMatter22 wrote: post #53

Grombobulous wrote: post #24

Earlier quoted context omitted.

I think the bigger issue is that oligarchs have gotten so powerful that they can just write down the valuation they want and the market will just agree with it blindly. The issue isn’t that investors will lose their money, the issue is that in some cases like Tesla they never do. The oligarchs are propped up by their own power over the behavior or the market — a power which is disproportionally larger than the object…

I don't get the complaint about Tesla. It's profitable, has little debt and 40 billion in the bank. What sort of "Power over the behavior of the market" do they exert? Like they can force people to buy their cars. Space X has the most sophisticated vehicle ever created by man. Dicks does not. If you are only looking at revenue then sure, but that would be silly, you have to look at what the potential in a company is…

[deleted]

Re: SpaceX sheds $400B in market value as debut rally hits reverse

#84

Post by kingstnap » Tue, Jun 23, 2026, 5:07 PM UTC

rchaud wrote: post #6

kingstnap wrote: post #2

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?

Pentagon contracts.

If you add up GE Aerospace, RTX Corporation, The Boeing Company, Lockheed Martin, Northrop Grumman, and General Dynamics put together you get a market cap of about 1T btw.

Re: SpaceX sheds $400B in market value as debut rally hits reverse

#85

Post by dgellow » Tue, Jun 23, 2026, 5:21 PM UTC

jojobas wrote: post #55

dgellow wrote: post #42

Earlier quoted context omitted.

SpaceX isn’t in indexes yet… That will be included later this month in NASDAQ & co.

The valuation is about to be just as unfair.

yeah, that's for sure

Re: SpaceX sheds $400B in market value as debut rally hits reverse

#86

Post by tastyface » Tue, Jun 23, 2026, 5:21 PM UTC

rlt wrote: post #48

lokar wrote: post #22

Earlier quoted context omitted.

Until MAGA is out of power

SpaceX is critical to national security and NASA. A new administration isn’t going to change that.

We simply cannot allow an unstable white nationalist who's deeply enmeshed in global far-right politics to be in singular control of a megacorp that's critical to national security. It's a far bigger risk than divesting from SpaceX and building or doing something else, if not outright nationalization.

Any non-MAGA leader would find this pretty obvious.

Re: SpaceX sheds $400B in market value as debut rally hits reverse

#87

Post by nh23423fefe » Tue, Jun 23, 2026, 5:49 PM UTC

jojobas wrote: post #28

darth_avocado wrote: post #17

Earlier quoted context omitted.

Don’t talk about fair valuations. Some people will say “who decides what anything is worth anyway”? Let people do what they want. If they lose their money they signed up for it.

I don't think most people signed up for it by just having some money in their pension funds.

They literally did. Investing in a broad market index means you want to own everything because you can't pick winners.

You just imagine you can pick for no good reason.

Re: SpaceX sheds $400B in market value as debut rally hits reverse

#88

Post by ryandvm » Tue, Jun 23, 2026, 6:21 PM UTC

flowerthoughts wrote: post #62

moezd wrote: post #11

SpaceX + Twitter + XAi + Cursor is the perfect combo to collect government contracts. You want exposure in social media? Use Twitter. Civil servants want AI? Use Grok. Developers want AI? Use Cursor. All space heading business? Contact SpaceX. All under the polished (!), totally unblemished (!) PR image of Musk. Someone please wake me up if this is a fever dream.

I think this has been Musk's play for more than a decade. Except the Twitter purchase, which was just weird. It's possible the AI play is for data center subsidies/tax breaks. TBC didn't go too well in terms of California rail expansion contracts, I think, but perhaps he can get some Pentagon money for building military DCs.

Yeah. I love how the guy behind DOGE has benefited more from US federal largess than any other person on Earth.

Re: SpaceX sheds $400B in market value as debut rally hits reverse

#89

Post by slumberlust » Tue, Jun 23, 2026, 7:11 PM UTC

Hikikomori wrote: post #72

DoesntMatter22 wrote: post #53

Earlier quoted context omitted.

I don't get the complaint about Tesla. It's profitable, has little debt and 40 billion in the bank. What sort of "Power over the behavior of the market" do they exert? Like they can force people to buy their cars. Space X has the most sophisticated vehicle ever created by man. Dicks does not. If you are only looking at revenue then sure, but that would be silly, you have to look at what the potential in a company is…

Did their potential go up or down when their CEO started heiling?

Considering that led to turning the white house lawn into a car sales lot, I'd bet it went up.

Re: SpaceX sheds $400B in market value as debut rally hits reverse

#90

Post by rchaud » Tue, Jun 23, 2026, 9:51 PM UTC

kingstnap wrote: post #84

rchaud wrote: post #6

Earlier quoted context omitted.

Pentagon contracts.

If you add up GE Aerospace, RTX Corporation, The Boeing Company, Lockheed Martin, Northrop Grumman, and General Dynamics put together you get a market cap of about 1T btw.

Those companies aren't considered "tech" so their share prices observe the laws of gravity. A single tweet about xAI-powered nuclear drones launched from the moon or whatever would probably cause the stock to go up 50%. And pumping the stock is all that matters.