745
SpaceX stock drops to a new low and loses $1 trillion in value in a month
(www.businessinsider.com)
this post was submitted on 18 Jul 2026
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It’s fun to laugh at the worst people taking Ls, until one realises that the insiders got to sell up early, leaving retail investors holding the bag, and that these involve not just eminently punchable Musk-idolising incel chuds or even FOXNews grandpas but ordinary working stiffs with pension funds and savings. Chances are everything went exactly to plan and even as Musk lost his very brief trillionaire status, he managed to cash out a lot of his virtual wealth.
No, thats just not true. At IPO date there were already many critical voices about the stock being way overvalued for what they charge at IPO. "Insiders" means there was info that was withheld or the public didn't know about. Anyone who bought this stock at IPO asking price was just foolish enough to buy into the hype.
There's a reason things like consumer protection agencies should exist. Most are too stupid and easily taken advantage of. You cannot run a society like that well. SpaceX already raised their funds and the bag holders are regular people. That is bad for society even if we may like to point and laugh at the morons.
There is a reason you shouldn't trade individual stocks if you're unwilling to research a bit at least. If you trade individual stocks without it it becomes basically gambling. I'm not laughing at the ordinary people losing money, but I also don't feel very bad for them in particular.
The planet is too fucked for me to care about dumb people's money.