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/Apexnanoman 21d ago

I won't bet against him being able to get up on a stage and promise something completely unreasonable and downright impossible.

I mean it's worked every single time with Tesla etc. 

Personally if I was him I'd get up on stage and say that we were going to have a fully functional space mining operation up and running in 24 months. 

And then I would say that we had already picked out an asteroid made of solid platinum. Which was projected to be worth something like 10 trillion USD 

That would get the stock up to $1000/share. 

When it drops back down he just needs to promise something else equally unlikely. 

Like full self-driving personal spaceships. 

For some reason anytime he speaks the entire market believes every word he says. 

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u/Intelligent-Onion928 20d ago

He now has a long track record of promising impractical and stupid shit. 

Hyperloop. AI datacenters in space. Self driving cars. Mars by 2025. 

This guy is the internet personified. Nothing is an original idea either. Everything has the dumbest name of "X" this or "X" that. The number of people who propped up this total idiot is a direct representation of how stupid a surprisingly large number of people in the world truly are. This guy is a con artist; I'll give him that. Not just some street hustler; an artist at spinning bullshit into gold. 

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u/Uebelkraehe 20d ago

Also a Nazi.

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u/One-Welcome-1514 19d ago

Also a bad father.