I’m confused. The IPO was $135 per share.
I’m not confused about the drop. Most analysts said that was a bear price anyway, and it was based on a lot of outrageous promises and valuation of xAI and Starlink, neither of which is very strong right now.
Essentially, Musk sold SpaceX the way he sells anything, making outrageous long-term promises that are unlikely to be realized, hence we don’t have a fleet of self-driving Tesla taxis already.
The sooner SpaceX falls to a more realistic valuation, the safer it is for everyone whose pension funds depend on the Nasdaq-100.
While I wouldn’t recommend investing in SpaceX (or any company contingent on Elon Musk’s wild claims, which often prove to be unfounded), investing in general is volatile and share prices fluctuate daily.
What’s wild is that SpaceX’ satellite Internet product is actually really good, but the valuation of this company is insane and that retail investors have no voting rights is a huge red flag, and therefore it’s important to stay the fuck away.
Their internet offering isn’t good at all because there are no safeguards in place to stop a literal maniac from cutting off your internet because he didn’t like a tweet you wrote. He’s done it before and he’ll do it again.
There are still parts of the world where even that beats out all the alternatives. They just aren’t terribly lucrative parts; thus the no good alternatives.
Let’s get it down to $0
They were never worth that much. But scams are profitable if you can enter early and find a bigger sucker to pass the hot potato. Which helps the hype.
I wish all Elon companies a swift crash and burn.
spacex is doge coin but even less stable
That’s not entirely fair. DogeCoin was, by all accounts, created by fairly decent people as a low-stakes joke, before Space Trump settled on it as his ticket to being popular and liked and, after spending some pocket change on a Shiba Inu for display, barged in and skunked it with his musk.
cool
$13.50 feels inflated
Womp womp.
Being an Elon Stan has never been more expensive.
who ever could’ve thought
lol
