Just 10 days after the company’s blockbuster IPO, buyers of its initial public shares are in the red.

Just 10 days after the company’s blockbuster IPO, buyers of its initial public shares are in the red.

Shares of Elon Musk’s SpaceX tech conglomerate plunged 16% Monday to close below their price on June 12, the date of the company’s massive initial public offering.

It was its third-straight trading day of declines for a company that just 10 days ago orchestrated the largest IPO ever.

At Monday’s closing price of $154.60, the average investor who bought SpaceX shares on the open market after its debut has now seen most of their gains disappear, market data shows.

      • Buffalox@lemmy.world
        3·
        2 个月前

        Haha that’s still to much. The value is based on XAI hype, and XAI is really next to worthless. They are doing everything after everybody else did it, and then they do it worse. It’s so bad they have no customers, and instead sell their server capacity to other AI companies. And the value of that will diminish fast, as better and cheaper hardware is developed.

    • lemongarlic@lemmy.world
      61·
      2 个月前

      Most of spacex is privately owned, there is much more demand than real supply of the stock so it’s overvalued. As more former SpaceX employees current private investors and short term investors sell the price will slowly go down.

  • wirebeads@piefed.caEnglish
    72·
    2 个月前

    Keep tumbling. Then fold Tesla and all his stupid other companies into it and bankrupt it all.

    Fuck musk and anyone that supports this filthy grifting pile of limp dicked shit that resembles a human being.

    • ZC3rr0r@piefed.caEnglish
      301·
      2 个月前

      You missed the change to add the qualifier “Nazi” to that, so let me correct that real quick: Fuck Musk and anyone that supports that Nazi.

    • Kraiden@piefed.socialEnglish
      19·
      2 个月前

      It’s almost as if the price was artificially pumped and the stocks are now being dumped in order to take advantage of the unscrupulous…

  • Pat_Riot@lemmy.today
    27·
    2 个月前

    I mean, wasn’t this the plan all along? Makia bunch of theoretical money off the IPO and just fuck you if you were foolish enough to waste your money buying in?

    • rafoix@lemmy.zip
      17·
      2 个月前

      The plan was to get retail investors (idiots) to pay loans and the original investors with cold hard cash.

      Now the retail (idiots) investors own stock in a business that makes no money and is burning piles of money monthly.

      • tempest@lemmy.ca
        9·
        2 个月前

        No way man, they’re gonna make space datacenters…

        You know, the things famously resource intensive massive but in space. They can’t lose.

        • obviouspornalt@fedinsfw.appEnglish
          10·
          2 个月前

          don’t forget that as hard as it is to get massive amounts of electricity into a space vehicle, it’s even harder to radiate heat away into a vacuum. space may be cold, but it doesn’t conduct or absorb heat well.

  • oakey66@lemmy.worldEnglish
    17·
    2 个月前

    lmao. literally everyone that explicitly bought this stock to ride the wave deserves this. everyone who’s 401k os tethered to this stock doesn’t.

  • D_C@sh.itjust.works
    121·
    2 个月前

    Oh no, how terrible for them.
    I super duperydo hope the people that supported the Nazi trillionaire Elon Skum get their money back!!!

    • n1ckn4m3@lemmy.worldEnglish
      6·
      2 个月前

      The overwhelming majority of individuals in the US with 401ks were forced to buy SpaceX stocks through target date funds, mutual funds, and indexes, because 8 different funds have >10% of their entire stock as SpaceX, and 4 of those have >20% of their stock as SpaceX. This was all a fucking grift and Americans who have done what they were supposed to by saving will pay the price. Fuck Elon Musk sideways, I will pop a bottle of champange when he dies and celebrate it as a yearly holiday.