Just 10 days after the company’s blockbuster IPO, buyers of its initial public shares are in the red.
Shares of Elon Musk’s SpaceX tech conglomerate plunged 16% Monday to close below their price on June 12, the date of the company’s massive initial public offering.
It was its third-straight trading day of declines for a company that just 10 days ago orchestrated the largest IPO ever.
At Monday’s closing price of $154.60, the average investor who bought SpaceX shares on the open market after its debut has now seen most of their gains disappear, market data shows.
I mean, wasn’t this the plan all along? Makia bunch of theoretical money off the IPO and just fuck you if you were foolish enough to waste your money buying in?
The plan was to get retail investors (idiots) to pay loans and the original investors with cold hard cash.
Now the retail (idiots) investors own stock in a business that makes no money and is burning piles of money monthly.
No way man, they’re gonna make space datacenters…
You know, the things famously resource intensive massive but in space. They can’t lose.
don’t forget that as hard as it is to get massive amounts of electricity into a space vehicle, it’s even harder to radiate heat away into a vacuum. space may be cold, but it doesn’t conduct or absorb heat well.