11 days
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- SaveTheTuaHawk@lemmy.caEnglish11 days
The world’s first ex-trillionaire. Back to tres commas for you.
- Echo Dot@feddit.ukEnglish9 days
When the IPO first was announced I made the point that Elon Musk isn’t now a trillionaire because not one will buy the stock at that price. Overinflated IPOs aren’t really relevant to the stock market, they already knew the value of a company they don’t need to be told what it is, they’re just a marketing gimmick.
- Melobol@lemmy.mlEnglish11 days
It didn’t vanish. The early investors got their money and the naive buyers left holding their empty bags.
This is what they call exit liquidity.Exit liquidity refers to investors who buy assets at inflated prices, enabling earlier investors to sell at a profit.
These later investors often incur losses as asset values decline.It is very common in crypto and in volatile tech stocks.
11 daysThey also got it on the NASDAQ so if you have an index fund that follows that you bought into it.
- 11 days
A lot of people really dont understand this.
SpaceX got the money. Its on their balance sheet.
Everyone who bought at $135 IPO price was giving money to SpaceX.
Everyone since then is just trading shares between each other.
The real shitshow starts once insiders can sell, until that happens we wont really know what price the market will settle at.
- 11 days
Usually around 6 months, but they pulled some shenanigans to make it shorter somehow, but i dont really know the specifics in this case.
How early?
I made my entry on the 8th June and sold on the 15th June expecting the crash.(To any zealot wanting to dump on me for trying to acquire wealth for a home: Please leave out any musk bad, spacex bad etc. comments out. Not interested in those)
- ZMoney@lemmy.worldEnglish10 days
What I find interesting about this is that everybody knew exactly what would happen, and then it happened. It’s a perfect counterexample to the logic of “this system isn’t perfect, but it’s the best thing we have.” It’s just the rich and powerful using leveraging their wealth and power to become even more so, and under the current rules nobody can stop them.
- BigMacHole@thelemmy.clubEnglish11 days
It’s a GOOD thing Illegal Immigrant Elon Musk FORCED YOU to Invest in this Company with your Retirement Accounts!
The market can stay irrational longer than you can stay solvent.
The stock hit $123 on Friday. It’s still got a $1.6T market cap. I have no idea where they got that headline from.
I have no idea where they got that headline from.
The “IPO price” for institutions (banks, hedge funds, a tiny bit for retail brokers) was $135. It opened on the public market at $150-something.
Still perhaps more than the company is worth, but at this point an institution that fought to get in on the IPO would be down 23% (unless they dumped it, which plenty did).
- NM_Gringo@lemmy.worldEnglish11 days
In a way SpaceX did me a favor. I dumped my NASDAQ composite fund before they started carrying SpaceX. It’s been on a downward trend ever since.
- MyVeryRealName@lemmy.worldEnglish9 days
Well then, SpaceX did them no favour because they would’ve profited off their NASDAQ fund investment if not for them.
- Art3mis@lemmy.blahaj.zoneEnglish9 days
No… as they said, they had already sold. If spacex never joined or they sold later, they wouldve lost money
- MyVeryRealName@lemmy.worldEnglish8 days
I assumed that they dumped their NASDAQ fund because it was about to carry SpaceX.
- Art3mis@lemmy.blahaj.zoneEnglish8 days
I dumped mine because of the war. Missing the spacex slump was just a plus
