-24% since IPO is still crazy high. I expected it to drop at least 50% day one. But alas, people are idiots
They have no one to blame but themselves. What kind of flaming idiot puts their trust in Musk after all he has pulled and all that was publicly available about the spacex stock being an AI scam and not the previous core business of spacex.
Plus they were overvalued by a factor of like 100 if you can read and were bothered to read their prospectus and how/why they valued the company the way they did.
What else would you expect trying to make a company that barely makes anything command a trillion dollar evaluation.
nachos?
Nacho money.
Their valuation was made based on the potential for every company to be using the product. No other companies outside of Musk-owned ones are valued that way. Many are valued on the average of a few years of revenue multiplied by 10.
It is blatant corruption and market manipulation. Anybody investing in such a company should expect to be holding bags within 24 hours.
Indeed, someone with a deep fanaticism for Musk posted exactly that scenario as inevitable. This was to stand by his man when Musk asserted that SpaceX should be worth more than everything else on earth combined (he was pissed that spcx had fallen).
The dude claimed that by 2038 the 20 biggest companies would all be entirely space based exclusively, and that globally SpaceX would be the sole provider of space technology and the other 19 companies would be tenants of SpaceX. It all made sense to him because space is bigger than earth, right?
I can’t find it, but among the usual suspects (space mining, space datacenters, terra forming), I was especially amused that his hypothetical “space banking company”, because for some reason the financials of space companies needed to be managed by a company that could get stuff launched into space?
I feel bad for them.
They probably had podcast after podcast pumping out information about SpaceX being a lock and also lack the discipline to sell when sitting on an unrealized profit; Meanwhile Elon still has 800 billion despite being a massively incompetent, douchebag silver spoon baby.
i needed it without the caption, so here y’all areAnd more pixemamels!
Love it. Hope Tesla’s next and his house of cards collapses as all the debt leveraged on his Tesla shares comes calling.
Man do I have news for you
spacex has to cannabalize, tesla, twitter, and XAI to keep it from collapsing.
Poor babies.
haha
At some point dumbasses will realize it’s a bad idea to dump your money on Elon Musk, the biggest fucking idiot there is…
Donald trump enters the chat…
what money?
Hahaha
Who knew investing in a capitalist fascist would impoverish you?
Let’s hope the same happens with rblx ““investors””
I believed in you and lost
Story of Elon’s life.
Yup. Thats your mistake right there.
ha ha elon bad
Funny how every dip was supposed to be a once in a lifetime buying opportunity until people actually bought near the top. SpaceX is still an incredible company, but incredible companies can still be overpriced. Reality eventually sends the invoice, even when the CEO is treated like a prophet.
SpaceX was an incredible company… Until Musk rolled in other failing companies into it.
There’s no focus on space anymore, it’s an LLM company with a rocket hobby on the side.
And on top of that, it’s still saddled with XTwitter’s debts.
i saw someone buy SPAcex stocks on wsb, and they lost alot, they were comparing it to the IBM guy that lost alot , but i heard he bounced back and then some.
