After briefly pushing SpaceX’s market value close to $3 trillion, investors have begun reassessing whether the stock’s rapid advance can be justified by fundamentals.
Nothing in the stock market has been about fundamentals for a very long time. Especially regarding Musk companies.
Oh look, the completely expected and basically dependable event that happens after EVERY IPO, happened. Anyone jumping on an initial IPO is a fucking idiot. They always go under.
They might eventually still make it back to be profitable if they wait months or even years… or they could have waited a few weeks and bought the inevitable dip and never been underwater in the first place, making more profit.
The only IPO I ever jumped on was ARM Holdings, and that actually ended up doubling within a couple weeks. Made a tidy profit on it, then dumped it when it plateaued.
Saying the average buyer is almost underwater is another way of saying that the average buyer has made a profit.
$185 is still way above the already ridiculous IPO price of $135. If this market made any sense, it wouldn’t have gotten this high in the first place, but since we’re here, it should really continue dropping. However, knowing how this market is, I wouldn’t be surprised if this is just a momentary dip before going back up for some dumb made-up reason.
Boo hoo my shares in a company owned by a fascist and with absolutely awful revenue in comparison to it’s valuation are losing value just as expected
cry me a river
All of this.
-digs around in depths of my heart for some sympathy-
Nope, fresh out.
So the pump dumped?
Wow. Such surprise. /s
What do you mean by “the average buyer.” Wouldn’t all buyers currently be in the same exact position?
Those who have the most shares (the private buyers, execs, c-suite, boardmembers, DJT n Fam) purchased well before IPO.
The “average buyer” are the retail big box store brokers who sold off those early shares to your name brand brokers so morons on WSB and Robinhood could claim to be astronaut investors.
I’m probably wrong about something so don’t fact check me.
No that’s pretty much it. Big institutional investors already were invested privately before. A handful of smaller institutions usually get priority at special rates unaffected by the initial fluctuations.
The big bold number that gets blasted by the media are what the everyday person has access to. And they’re always the first to get fucked, as designed.
Wall Street’s motto is: Privatize the profits, socialize the losses. Everything follows that.
I’ve read that there are masses that are now shorting the stock too, and they’re making money on the dip. Those wouldn’t be your average buyer. Although idk if any of that is considered in that statement from the author.
Wow, who could have seen that coming?
I mean, is it really an IPO if it isn’t insanely overpriced when initially offered?
Initially no, they’re designed to be under so that it surges after ipo, that makes it look good performance.
Well this one’s designed to slip quickly into index funds and forced buying, so it makes sense to be high.
Yeah, I would say it’s quite usual to see a big dip right from the start. It’s just hamsters for whom buying Space X is their first trade don’t know about that
Omg. How?? Nobody foresaw this
Good :D
Great now we can write smug articles about how much Elon “lost” next week.
