That’s a weird way of saying a stock started at $135 and is now at $181 a week later, but some people bought it when it was higher than that for a few days.
I mean seriously? I want spacx to fail super hard and musk to get completely dumped on, but this amount of volatility is completely typical when well known companies start an IPO. It sucks it’s like 35% higher than the initial offering price.
After briefly pushing SpaceX’s market value close to $3 trillion, investors have begun reassessing whether the stock’s rapid advance can be justified by fundamentals.
Nothing in the stock market has been about fundamentals for a very long time. Especially regarding Musk companies.
I believe Uber was the company to break the fundamentals game
The entire fundamentals game was broken back in around 2012 when, in the aftermath of the 2008 Crash, Central Bank meetings setting interest rates became more important in setting the direction the Stock Market took (up if they lowered interest rates, down if they did not) than fundamentals.
It just so happens that the period when Uber rose coincided with that period of high interventionism by Central Banks which lasted almost a decade since their solutions for the 2008 Crash did not address the underlying causes and the recovery following that Crash was one of the slowest post-Crash recoveries ever (in fact, Interest Rates and GDP Growth are still not back to their historical trends).
It wasn’t Uber who broke the Financial System’s reflection of real wealth creation, it was Zero Interest Rate Policy flooding the Economy with pretty much free money and Too Big To Fail meaning that certain Financial Institutions could do every Financial Crime they felt like and never really be punished for it and take any risk they felt like because Central Bank money was always there in the background to save them if they went too far.
Boo hoo my shares in a company owned by a fascist and with absolutely awful revenue in comparison to it’s valuation are losing value just as expected
cry me a river
“my shares in a company owned by a fascist” - At face value, this says you’re a fascist.
Sorry for forgoing the /s tag, i thought the “Boo hoo” and “cry me a river” were enough mate
Oh I’m not talking about your entire post and opinion, I was just amused by that particular part of it. I don’t actually quite understand or agree with the rest of your post but that’s fine.
It’s up 35% from its starting IPO pricing…
it opened at 171 that’s not 35%
It most certainly did not. The IPO was $135.
It’s like suuuuper easy to look up. Literally any search you want for spacx ipo or any stock trading site. $135
You’re retarded. 135 was for people who bought through their brokerage who will get banned from trading with them if they sell right away. Opening price was 171
You ignorant fuck. It was $135 for the offer price, was about $150 around 10 am on open market (Friday), and closed the day out at around $161. Everyone who bought on or before Friday is up. Then the extra chad toads knocked it to over $220 after market close Monday night a few days later and it’s been drizzling down to the $181 it sits at now.
The $135 was was the pre open market but nothing like what you’re talking about. It was open to anyone across a bunch of different brokerage firms. You could have been any regular schmuck on even Robinhood and bought shares at $135 if you requested them. No exclusives only. Also “you can’t sell it as soon as you want or you’ll get banned by your brokerage” all depends on your brokerage. Some like Charles Schwab don’t give a fuck. others may not let you flip early or you get a 30 to 60 day ban from buying other early allocation shares of new stocks. I don’t think anyone bans you from trading through their brokerage if you flipped a stock.
lmao I literally watched the stock go live why are you even commenting on shit you don’t know, it wasn’t even trading at 10am on Friday.
All of this.
Saying the average buyer is almost underwater is another way of saying that the average buyer has made a profit.
They would have to realize that profit and to do that they’d have to sell. Any meaningful quantity of “average buyers” cashing out would certainly result in most of them selling at a loss as the price dips below their break even.
The media does this constantly with Elon.
So the pump dumped?
Wow. Such surprise. /s
Oh look, the completely expected and basically dependable event that happens after EVERY IPO, happened. Anyone jumping on an initial IPO is a fucking idiot. They always go under.
They might eventually still make it back to be profitable if they wait months or even years… or they could have waited a few weeks and bought the inevitable dip and never been underwater in the first place, making more profit.
The only IPO I ever jumped on was ARM Holdings, and that actually ended up doubling within a couple weeks. Made a tidy profit on it, then dumped it when it plateaued.
Bet you wish you held it now though. Up about 7x since it first opened.
Man, I was having a good day, too…
Notably ARM was not mainstream when it IPOd either, meaning it was a safe® bet at the time.
Most IPOs have become sensationalized to drive up interest, which is terrible for everyone except a select few.
I’m not sure what you mean. It already had complete dominance of the smartphone market, which was, at the time, still growing.
Yes, sometimes gambling pays out.
I mean, is it really an IPO if it isn’t insanely overpriced when initially offered?
The IPO was $135. Right now the price is at $181
Yeah, I would say it’s quite usual to see a big dip right from the start. It’s just hamsters for whom buying Space X is their first trade don’t know about that
Initially no, they’re designed to be under so that it surges after ipo, that makes it look good performance.
Well this one’s designed to slip quickly into index funds and forced buying, so it makes sense to be high.
$185 is still way above the already ridiculous IPO price of $135. If this market made any sense, it wouldn’t have gotten this high in the first place, but since we’re here, it should really continue dropping. However, knowing how this market is, I wouldn’t be surprised if this is just a momentary dip before going back up for some dumb made-up reason.
Yeah, unerring faith in the magical powers of Elon continues to be a hell of a drug. Tesla does not remotely justify its current valuation either.
lol … psychopaths and sociopaths with a never ending thirst for profit are surprised that infinite growth no matter how much you want to believe in it can not sustain itself are surprised when their money can’t magically grow any more.
That was the entire point of the IPO wasn’t it? Funnel money to Elon and his friends and leave the rest of the (less connected) idiot investors holding the bag? Anyone who didn’t own before it could sell wasn’t one of the in-crowd that was supposed to be handed money. If you did buy, you weren’t buying based on any business fundamentals and should have known to sell as soon as any gain could be realized which would have been hours or even minutes after buying.
Someone more knowledgeable than me please correct me if I’m wrong but I don’t think any of the original private investors have been capable of selling anything and I don’t think they will be able to for another 30 or 60 days.
And IMO, I think Elon is thoroughly convinced that he will have another Tesla stock situation on his hand, where it generally keeps going up unreasonably for many many years.
Good I hopw they end up penniless and SpaceX gets abolished.
Good :D
-digs around in depths of my heart for some sympathy-
Nope, fresh out.
Wow, who could have seen that coming?
What do you mean by “the average buyer.” Wouldn’t all buyers currently be in the same exact position?
Those who have the most shares (the private buyers, execs, c-suite, boardmembers, DJT n Fam) purchased well before IPO.
The “average buyer” are the retail big box store brokers who sold off those early shares to your name brand brokers so morons on WSB and Robinhood could claim to be astronaut investors.
I’m probably wrong about something so don’t fact check me.
No that’s pretty much it. Big institutional investors already were invested privately before. A handful of smaller institutions usually get priority at special rates unaffected by the initial fluctuations.
The big bold number that gets blasted by the media are what the everyday person has access to. And they’re always the first to get fucked, as designed.
Wall Street’s motto is: Privatize the profits, socialize the losses. Everything follows that.
I’ve read that there are masses that are now shorting the stock too, and they’re making money on the dip. Those wouldn’t be your average buyer. Although idk if any of that is considered in that statement from the author.
