This is a most excellent place for technology news and articles.
Data centers in space are frankly a ridiculous idea. Can't believe so many wanted in on the IPO. They have cool tech, but nothing that would warrant such a high evaluation for now and the foreseeable future.
Good. Maybe one day the investors will see this idiot for what he is: a greedy racist fascist. And stop investing in his bullshit.
They won't do that. They're also greedy racist fascists. That's what capitalism is.
This is the sort of news that achieve nothing and only give this guy visibility
Sell side stock news is usually made to help retail investors lose money. They will pile on to this thing for a few more weeks then reverse it back up to 3 trillion. Rinse wash repeat. And you have infinite money generator 2.0
Insider trading 101 right here
Its everything I hoped for.
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.
What? A company that is making -5 billion net income lost 1 trillion in market value?!
The irony is that Musk himself has already cashed out enormous wealth over the years: Whether the stock jumps or drops today barely changes his position. The people really feeling the pain are the retail investors who treated him like an infallible genius instead of managing their own risk.
…so far!
Was this not the plan all along? I thought it was an open secret to open woth high price, let initial investors sell their shares. Let 401K and small-time investors buy it, up and take the fall.
Yep. AI has drained the venture capital well dry. So...
Net result:
good, we knew it was bloat but it was still annoying af listening to people go "wow a trillionire", fucking wealth glazer are garbage people 9/10 times.
The majority of people who have bought SpaceX stock are now down at LEAST 18% in value.
I'd be celebrating this more if it wasn't the retail investors getting screwed
New low is going to become a common phrase for space x. Boldly going where no stock has gone before.
How does one short a stock? Like what is the process? Do I need a special broker?
If you think the whole stock market looks like a bubble right now, you could invest in commodities and wait for the crash indefinitely.
IMHO it's better to not trust the stock market at all. It's a big club and we ain't in it.
