• thanksforreading@lemmy.ml
    15·
    2 days ago

    If you are celebrating this you may be financially illiterate. This is exactly what the IPO was designed to do.

    1. Invest pre-IPO
    2. Pump
    3. Dump
    4. Profit while the normies and pension funds hold the bag

    That’s what the chart is showing.

    • gecko@lemmy.ml
      23·
      1 day ago

      why shouldn’t i be celebrating this ? if normies and pension funds dont want to hold the bag they shouldn’t invest in these scams , who is forcing them ?

      • thanksforreading@lemmy.ml
        10·
        1 day ago

        They all hold index funds and index funds buy this because they buy based on a predetermined algorithms. There is no human in the loop. The pension funds are using our money. You are cheering Elon and the Epstein gang robbing us blind. Get financially literate or get scammed.

        • [deleted]@piefed.worldEnglish
          3·
          1 day ago

          It is more that a lot of them are tied to a specific stock market that has guardrails against new companies coming in and causing massive swings, but those markets made exceptions for AI companies for no logical reason.

      • JillyB@beehaw.org
        41·
        1 day ago

        That’s a very flippant, holier-than-thou attitude. “It’s fine to scam people out of their life savings. They shouldn’t have been scammed”. Pure victim blaming mindset.

        Most people don’t control where their pension funds are invested. Responsible retirement plans that invest in index funds will also be affected without anybody specifically choosing to invest in SpaceX. And even if they did, it’s still not ok to pump and dump other people’s money.