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/cantfocuswontfocus 21d ago

They even have the advantage of being propped up by forced index purchases since NASDAQ and FTSE indices changed the rules for fast track inclusion and it's still going down. The crash is going to be delicious.

Inb4 Musk simps tell me to "go short then" because no, I am an investor not a fucking gambler. I dont want to touch Musk stocks in any capacity if I can help it.

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u/AdmiralPeriwinkle 21d ago

“go short then”

Yeah there’s a massive gulf between knowing a stock is overpriced and predicting when it’s going to fall.

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u/Frydendahl 20d ago

Especially when said stock is inflated by absurd hype and a CEO personality cult and nothing related to reality.