If only you had bought $1000 worth of stock in SpaceX on June 16, you would now have $602 left.
Then again, not believing in Elon's fantasy company means you have $1000 left.
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@randahl the levels of corruption and insider trading in the US would probably have any investment hard to make profitable over the longer term.
Unless you ride the day-trading (insider trading) fever pitch cycles. But I advice against that, unless you actually are an insider.
Predictably, stability, rule of law. That's a good investment environment. Don't see much of that these days
@randahl So much winning…
@randahl Maybe the stock will disintegrate in the same way, as the starship will do in a few hours.
@randahl This is pretty common for IPO's, especially ones as hyped as this one. It will take a few years to find its fair value. Most of the prospectus was about AI and orbital datacenters. It will take more than two years, and a lot of capital, to get that off the ground. The prospectus was all story and no numbers. People who bought the IPO bought a story.
This stock is over valued by about $132 a share.
@randahl they're the world's most shorted stock, and I would have shorted them as well, but as Keynes is rumored to have said, "markets can stay irrational longer than you can stay solvent".
@randahl from $1000 to $602...
MAZEL TOV!
SK Hynix not far behind
@randahl To put it briefly: Musk won. Again.
@randahl That has to be one of the worst 2-week post-IP performances ever. This volatility is one reason you would ordinarily want to exclude IPOs from an index until they've had some time to settle. 😜
I wanted so badly the liquidity to short this pile of shit, but sadly the "loss" was always the point.
It allows the paedofile fascist to transfer his debt (and interest burden) from buying Twitter to your pension fund. Win-win.
He's now debt-free and a lot of people have lost retirement savings, and so have to slave longer...
