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SpaceX Drops 14% in One Day, Price Now Below IPO Launch
- OnlyANeurosci 4mo agopump and dump scheme, but your 401k bought some.
- SpicyLemonZest 4mo agoNotably, today was the first batch of additions, which really does lend credence to the idea that it's just about people getting out after the forced buying. We'll see what happens in early July when it makes it into the Nasdaq 100.
- rlt 4mo agoWhat's that theory? Who are the "people getting out after the forced buying"? People who bought assuming there would be an increase in price due to forced buying?
- SpicyLemonZest 4mo agoRight. As the "short squeeze" dramas have shown, pump and dump victims these days can have a surprising amount of literacy on market dynamics. I would guess there's quite a lot of SpaceX investors who were convinced that the stock can't go down because the indexes have to buy it.
- netsharc 4mo agoDo 401k's know about pump-and-dump, but think they can time it to make profit? Or are 401ks "bound" to buy stocks? It feels like a lot of retail buyers know the emperor is naked, but are still acting on greed, thinking they can "catch the falling knife" and time the market departure to profit from the hype...
- smw 4mo agoA lot of them are heavily invested in index funds that added SpaceX at IPO due to market cap.
- wrs 4mo agoThe big indexes have a cooldown period before buying, which these scam artists attempted to radically shorten before the IPO, but they failed (at least partially). The S&P500, for example, will delay a year before adding it to the index. Nasdaq 100 was talked into reducing it to 15 days, so you might want to get out of the Nasdaq 100.
- tombert 4mo agoI got rid of all my QQQ, which was substantial, but I didn't convert all my vulnerable portfolio because I wanted to minimize how much I pay in taxes. I now use the Interactive Brokers MCP to make a "pseudo QQQ" which has all companies except Tesla and SpaceX in there, and I otherwise use the same weights as the official QQQ. In order to avoid tax overhead, my rebalancing is buy-only, no selling, so it's not a perfect analog to QQQ but it's close enough and I at least got some of my capital out of SpaceX.
- 0cf8612b2e1e 4mo agoS&P still requires one year(?) profitability, which SpaceX has yet to achieve. The recent datacenter rentals might have pushed it into a profitable quarter.
- cyberge99 4mo agoThey can solve that with “creative accounting”.
- tombert 4mo agoI think it's much simpler. A lot of funds are tied to things like the NASDAQ-100, which SpaceX figured out how to get fast-tracked for. Once it's officially on the NASDAQ-100, stuff like QQQ has to buy it, whether or not people like the idea of it. Of course active investors could do something like short Space X by exactly the amount that their funds have to more or less "cancel out" their investment, but most people aren't active investors.
- deleted 4mo ago[deleted]
- jerjerjer 4mo agoThey didn't even start on the dump part yet. Only initial 5% of the shares are trading so far.
- ttcbj 4mo agoOne thing I learned recently is that Vanguard Total Stock Market Index (VTI) is float-weighted. That means that SpaceX's percentage in the index is based on the value of the floating shares, not the total market cap. As a result, a fund like VTI, for now, doesn't have that much SpaceX. It will add more as the lockup periods expire and the float increases, but increasing float might also drive down the price.
- neogodless 4mo agoLooks like the holdings update at the end of each month. Check back in ~8 days and look for SPCX! https://advisors.vanguard.com/investments/products/vti/vanguard-total-stock-market-etf https://advisors.vanguard.com/investments/products/vti/vangu... (there's a search by ticker under Holdings)
- dolmen 4mo ago[flagged]
- cdrnsf 4mo agoA rapid unscheduled financial disassembly.
- drivingmenuts 4mo agoIf my schadenfreude grows anymore, I might burst into tears.
- elzbardico 4mo agoQUOD ERAT DEMONSTRANDUM
- contingencies 4mo agoAD TERRAM!
- drivingmenuts 4mo agoYOU MUST CONSTRUCT ADDITIONAL PYLONS!
- contingencies 4mo agoIt certainly wasn't a StarCraft or gaming reference, though I'm not surprised it was interpreted that way (personally bowed out of RTS ~C&C1). I do think you've got a good millennial-cultural catch-phrase for the zeitgeist AI datacenter funk there, though!
- drivingmenuts 4mo agoI wish I could train Claude to end every statement it utters with "YOU MUST CONSTRUCT ADDITION PYLONS". And have it be permanently embedded.
- empath75 4mo agoThe IPO price for SpaceX was _delusional_. The price now is delusional. Especially since it's so dependent on the US government for revenue and he's done everything possible to irritate the party that's about to take over the federal budget.
- tombert 4mo agoIt was insane to me that a company that had less than thirty-billion in revenue was valued at more than a trillion. I'm not sure how the People in Charge didn't call bullshit.
- ifwinterco 4mo agoThe way exponential maths works, if a company really can grow at (for example) 10% per annum then it can grow into what looks initially like a very high PE multiple on current earnings surprisingly quickly. This is why people sometimes use forward P/E but that does have the obvious drawback of the denominator not actually existing yet. However with SpaceX the valuation is extreme and also can they grow at that rate for years on end? Potentially not
- tombert 4mo agoReading their IPO prospectus seemed to imply that they planned on getting 100% of the entire AI market. Considering how far behind Grok is (revenue-wise, but also quality-wise [1]), that seems very unlikely to me, and while this might be overly optimistic I think there's a chance that with SpaceX being public, Elon's drug addiction and pathological lying might catch up with him. [1] Disclaimer, I've only used the free version of Grok. Maybe the paid one is great but I doubt it's better than Claude or OpenAI and I don't want to give Elon money since he seems to have done a pretty good job buying the executive branch with it.
- cyberge99 4mo agoThere are no people in charge.
- mrcwinn 4mo agoFor the sake of clarity, it's well above its historic IPO price, but near or slightly below where it began trading that day once it officially opened.
- jeremywho 4mo agoHistoric IPO price? It opened at $160 10 days ago, did it not? Currently it is below that price. What historic price are you referring to?
- kriz9 4mo agoIPO price was $135
- tcp_handshaker 4mo agoWait for tomorrow...
- strathmeyer 4mo ago[dead]
- pera 4mo ago-16.5% at the moment... Is the market reacting to the $20B bond offering news? https://www.bloomberg.com/news/articles/2026-06-22/spacex-kicks-off-debut-us-dollar-investment-grade-bond-offering https://www.bloomberg.com/news/articles/2026-06-22/spacex-ki...
- budman1 4mo agoso, are these bonds a good buy?
- lucamark 4mo agoLet's grab some popcorn. - Price/Sales about 128x (NVIDIA had a peak of a 40x at its peak) - Bought Twitter per 44 billions. Inflated its valuation to $250 billion just by integrating it into X.AI - EnterpriseValue/EBITDA about 219x (30x for scaleup business) and negative Price-to-Earnings - Low free-float trick (minimal public shares available) Even the market efficiency hypothesis struggles to justify it
- tcp_handshaker 4mo agoSpare a thought for the investors who bought SPCX at $218 on the 16 June at 10:00AM...They REALLY needed that stock....
- lucamark 4mo agoThat's bad for ETF owners too. Funds will be legally forced to buy a tightly restricted supply that will pump the price even more
- redox99 4mo agoIf the Anthropic, Google, and Reflection AI deals stay afloat, the numbers are much better.
- stackbutterflow 4mo agoNot convinced it means anything in one way or another. I remember the same headlines right after Facebook's IPO. The discourse was very much that it was obvious that a website to connect with your friends wouldn't make money.
- 2OEH8eoCRo0 4mo agoFacebook was profitable
- josefritzishere 4mo agoI think it was completely obvious from the outset that this was a pump and dump scam. I'm waiting for the insider trading charges to hit.
- lousken 4mo agowhy would you even invest into this bubble
- cyberge99 4mo agoMarketing and promotion.
- budman1 4mo agobecause i am smarter than the next guy and will know when to get out.
- general1465 4mo agoLast words before posting loss porn on r/wsb
- r721 4mo agoPalantir -6.98% https://finance.yahoo.com/quote/PLTR/ https://finance.yahoo.com/quote/PLTR/
- ralfd 4mo agoSpaceX will swing wildly in future, also exploding/successful Starship flights and enthusiasm for moon landing/Artemis missions.
- bryanlarsen 4mo agoWhich is true, but silly. SpaceX's rocket business is currently a $4B/year business. SpaceX's $2T valuation has nothing to do with launching rockets, a little bit to do with being an ISP and a lot to do with AI hype.
- bigtex 4mo agoYes, they claim the TAM for AI is 24 trillion dollars. Do with that what you will.
- rlt 4mo agoThe $2T valuation definitely depends on Starship working well. Orbital data centers have no chance of being profitable otherwise.
- manwithopinions 4mo agoThe $2T doesn’t depend on anything to do with space. People are investing in Elon, not any specific product or technology. Hence his roll up of X and Xai into SpaceX and Tesla soon too. SpaceX is The Elon Company, not space or cars or AI. And anyway, orbital data centers have no chance. They’re just like the Mars colony, an Elon boondoggle.
- verzali 4mo agoFeels like a bad bet. People are not immortal. What happens if he gets hit by a bus or has a heart attack?
- illiac786 4mo agoIt’s emotional, people like to have someone to believe in, who turns off their brains a bit. So annoying these pesky brains, always whispering rational things to do. So much more comfortable to just blindly trust into someone. Funny how the above absolutely does not apply at the local scale. The same people blindly trusting Elon probably don’t trust their neighbors to even hold a parcel for them.
- tim333 4mo agoStill above the actual IPO price of 135. It's below where it opened trading on the first day which I guess is what the editorialised headline is supposed to mean. Trading opened at about 160 on the 12th and is about 155 now. Such fluctuations don't really mean much.
- manwithopinions 4mo agoFirst trade was exactly $150. The indicated price was falling from around $170 and then when it hit $150 the market opened.
- raincom 4mo agoAt least people stop shorting SpaceX on fundamentals. Shorting just increases the momentum.
- rich_sasha 4mo ago[dead]