SpaceX shares crashed below the $135 IPO price, wiping out $1 trillion since June. A scrubbed Starship launch and upcoming investor lockups triggered the selloff.
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.
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.