Tesla stock down 15%, SpaceX down 50% from its high..
Karma.
https://www.wsj.com/finance/stocks/reality-bites-elon-musk-and-his-tesla-spacex-believers-1b639591?st=nPWxnr
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Only 85% more to go.
@jeffjarvis Disagree. Worked as intended. Early investors got their exit liquidity. Passive investors are forced to invest in crap stocks not just Xai
@jeffjarvis Markets eventually price in trust.
@jeffjarvis "The declines deepened last week after SpaceX postponed a test launch of its Starship rocket"
Which was utter nonsense. The space operation is a tiny fraction of the supposed "value" of SpaceX, most of which is AI bollocks, and the write-down would suggest that the investors now reckon that the space business is now worth nothing just because of a routine delay to an experimental flight which doesn't affect the core Falcon 9 business in the slightest.
The early investors (including Musk) in SpaceX are estimated to have put in about $10/share, so as long as the share price is above $10, they're still getting positive returns. It's currently about $118, so they're getting over a 10x return. And they're able to start selling soon.
@david_chisnall @jeffjarvis
Oh, they already can sell, there was a special rule for early investors included.
This is such a huge fuckery, stealing money from the people, again
@david_chisnall @jeffjarvis
This. Original post will be misread by people who never stared at stock charts.
Percent numbers up and down from peak time X are always misleading anyway.
Layers of broligarchy scams are ensuring that they wont loose money on their disastrously fucked up IPOs and companies.
Documented on mastodon various times a couple weeks ago during spacex ipo.
Percent numbers up and down from peak time X are always misleading anyway.
Also very true. The peak for SpaceX was less than a day and it dropped a huge amount over the next three days. There's enormous volatility around most IPOs.
@jeffjarvis when do we get the SEC investigation on how SpaceX got to bypass the waiting period before being added to the Nasdaq and Russell indexes and by extension added to our 401ks?
@jeffjarvis It's 50% below the record high.
-12,5% down from IPO.
@jeffjarvis an unstable racist genius
@jeffjarvis You mean that the musk-ovite is no longer a trillionaire?
How will he get by??
