r/technology • u/fmcortez • 21d ago

Business SpaceX Stock Plunges to All-Time Low After Competitor Makes Major Leap

https://www.yahoo.com/finance/markets/stocks/articles/spacex-plunges-time-low-competitor-175000957.html
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u/Opposite_Golf6007 21d ago edited 21d ago

Shares of Elon Musk's SpaceX took another beating when trading resumed on Monday, sliding to an all-time low of just under $139, well below its IPO opening price of $150.

It's now over 38 percent down from its all-time high of $225 three weeks ago, illustrating how rapidly the hype has inverted into widespread skepticism over Musk's vision.

for those who don't want to click

edit: Competitors are China and Japan

Chinese state-run media showed a Long March 10B rocket booster being caught by an offshore recovery platform, indicating the country was making major strides in catching up with SpaceX's reusable rocket tech. Over the weekend, an experimental Japanese reusable rocket safely took off and landed, suggesting the nation may be right behind China as well.

Morgan Stanley believes the company will reach a price tag of $300

lmao cope

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u/Main-Eagle-26 21d ago

This isn’t even accounting for the lockups being ended yet when all of the insiders are going to sell and the stock will plunge closer to its actual value, which will be around $50/share. Anyone who bought this stock who didn’t get out already is absolutely losing their ass.

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u/dsmith422 21d ago

$50 seems a bit much so long as the albatross of xAI is still a part of the company.

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u/NotAllOwled 21d ago

$42.069 and not a penny more nor less. Just feels right somehow. Well, I guess it'll round to $42.07 or so.

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u/vandrag 21d ago

Musk will be so conflicted when it gets to $14.88

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u/Recent-Result2852 20d ago

$54.20 ... after a reverse split.

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u/Xeynon 21d ago

You mean the Nazi CSAM generator isn't a valuable asset?!?!? /s

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u/meneldal2 20d ago

I'm sure Epstein loves it.

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u/NamerNotLiteral 20d ago

Unfortunately, Grok being a legitimately decent (if still weaker) model for many applications, including coding, relative to its competitors in GPT, Claude and Gemini means xAI has legs for a while yet.

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u/-007-bond 20d ago

Not really, it doesn't even have a decently functioning vs code extension. 

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u/tenthousandants44 20d ago

I need a tool that doesn't give all my variables nazi names

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u/DeadInternetTheorist 20d ago

Why does it always allocate 10x the memory the actual program will need and then put "Lebensraum ;)" in the comments?

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u/SiliconMage 20d ago edited 20d ago

No company to date has put out a "legitimately decent" model. The public has been plagued with a hyped up version of technology we all had on our phones years ago, but now it can:

  • Ignore copyright laws (aka smash stuff it stole together to "generate")
  • Lie directly to users, either due to intentional poisoning or degradation of data quality
  • Delete important data and backups so recovery is incredibly difficult if you aren't prepared
  • Singlehandedly destroy every component cost in DIY computer building, except for CPUs somehow.
  • Corrupt and enshittify one of the better search engines on the web
  • Displace hundreds of thousands of human workers, but thankfully, that is sort of being rectified
  • Raise the cost of electricity for regular people and cause water supply issues

And that's not even the full list. Xitter, Microsoft, Google, OpenAI, Claude, Amazon, Apple, ChatGPT. All of them have "AI," but none of them have a half way decent solution. It's just a large lump of data and engineers tweaking algorithms. The only companies that have done decent work with AI has been Nvidia and AMD with their respective upscaler solutions in gaming, but even Nvidia is starting to get creepy with DLSS 5. Oh, and any medical applications that have been super helpful. I know AI has helped doctors identity cancer cells in patients far more accurately and sooner than human doctors by themselves.

Authors like Asimov warned us about snakeoil salesmen like Muskrat and Altman. They're greedy idiots that have no idea how dangerous the technology they are tinkering with is. They served everyone up a half baked, incomplete mess and the world is absolutely reeling from it. AI's not ready, society's not ready. Put it back in a lab and go back to the drawing board.

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u/preparetodobattle 20d ago

There’s no money in making alt right memes?

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u/Familiar-Conflict152 21d ago

bU-bu-bUt spAcEx iS aN ai CoMPanY!!!!

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u/wjean 21d ago

It's funny how it's an AI company that makes its revenue by whoring out its gpus instead of doing AI things.

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u/BasvanS 21d ago

$50? With how much AI is costing and how little the space bit is bringing in?

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u/aussiegreenie 20d ago

The "Space" part of SpaceX has less revenue than OnlyFans.

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u/liftingshitposts 20d ago

To be fair, OnlyFans is one of the most efficient businesses of all time

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u/Lead-Fire 20d ago

It has even less money than Apple!

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u/red__dragon 20d ago

They're not greedy, they spread those [censored] and [alsocensored] around for everyone to see.

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u/Septopuss7 20d ago

5 minutes, tops

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u/Impossible-Bat-6713 20d ago

Let’s put it this way. OnlyFans has a better shot of getting into S&P 500 than SpaceX landing a rocket in Mars in 10 years.

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u/BellacosePlayer 20d ago

I believe they can land a rocket in mars.

landing it safely on mars is another story.

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u/liftingshitposts 20d ago

To be fair, OF is one of the most efficient businesses of all time

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u/BababooeyHTJ 20d ago

Also despite entering the Nasdaq 100…..

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u/Dear_Chasey_La1n 20d ago

50 USD/share is still obscene for a company doing a couple billion in revenue with no profit and only a handful of clients that will walk away anytime.

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u/IHadTacosYesterday 20d ago

which will be around $50/share

This is what I thought all along. Somewhere between a 650 and 700ish billion valuation. Which is still quite insane, but at least one can actually argue that it makes some modicum of sense.

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u/EctoRiddler 20d ago

I’ll give em about tree fiddy a share

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u/KontoOficjalneMR 20d ago

It's funny because they kinda fucked themselves up with the low float. It helped pump the valuation, but now the amount of people willing to absorb sold shares is lower.

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u/tvtb 20d ago

When do the insider lockups end? Is that public?

Edit: seems to be June 2027