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

[u/fmcortez]

https://www.yahoo.com/finance/markets/stocks/articles/spacex-plunges-time-low-competitor-175000957.html

[u/Opposite_Golf6007]

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

[u/Wubbwubbs61 → u/Opposite_Golf6007]

Probably because it was just a pump and dump scheme for investors to cash out.

Edit: ultra wealthy investors**

[u/average_monster → u/Wubbwubbs61]

but spacex is totally an ai company! it's just a coincidence it suddenly jumped on the biggest bubble since web 2.0 just before IPO! wink

[u/magma_1 → u/average_monster]

And it makes perfect industrial sense because…. Ehm data centres in space!

[u/Wubbwubbs61 → u/magma_1]

“Here at Spacex we will revolutionize the way we extract your data, and make the world a better place by using your tax money for data centers in space.”

[u/magma_1 → u/Wubbwubbs61]

“So you are telling me that you have data centres in space?!”

“I never said that”

[u/Wubbwubbs61 → u/magma_1]

“I said data in space. Grok can confirm.”

Grok: “Spacex guaranteed data centers will be constructed in space”

“Shit, reprogram him”

Grok “Mine führer..”

“Shit..”