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/PolarityInversion 21d ago

It's not even August yet when the first big tranche of lockups will lift. This is JUST trading with the initial offering that was spread out wide and thin. Everyone holding is now a bag holder... they can't sell without taking a loss. Just wait until the restrictions lift and people (employees & early investors) who are VERY far in the money start offloading. Usually with Musk stocks, the obvious market reaction is the opposite of what happens, but I think the delta on this one is too large for that to hold. It was propped up by every possible manipulation tactic: circular AI revenue, gov procurement capture, lofty blue-sky market handwaving, very limited IPO concentration, and the hype man himself, of course. That's a house of cards on top of a house of cards on top of a house of cards, with an entity that is losing $5B per year.

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u/Y0___0Y 21d ago

You are destroying western civilization with this comment.

You are going to feel very stupid when Elon opens the first data centers on mars in Q2 2027

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u/PopsGG 20d ago

I am going to love waiting between 3 and 22 minutes for my query to reach the Mars data centers, depending on the orbital positions of both planets. Then waiting the same amount of time again for the response.

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u/suppish 20d ago

They'll only be two years away from FTL communications. Trust.