▲ 553 ▼ SpaceX Stock Plummets Below IPO Price as $1 Trillion Vanishes (townflex.com) submitted 2 months ago by stermy4u@lemmy.world to c/technology@lemmy.world 105 comments fedilink hide all child comments
[–] krisevol@lemmus.org 6 points 2 months ago (11 children) That trillion doesn't exist. It didn't go anywhere. permalink fedilink source parent hideshow 11 child comments replies: [–] ExLisper@lemmy.curiana.net 14 points 2 months ago (8 children) It does exist and it was moved from poor people to the rich. As always. permalink fedilink source parent hideshow 8 child comments replies: [–] boonhet@sopuli.xyz 6 points 2 months ago Well yes but that doesn't mean an entire trillion dollars existed first. Valuation goes by the latest trade price, not total purchase price of all stocks. A million people could all buy a share of something that has a million shares for 1 dollar and then the some person buys one off one of the investors for 1000 dollars and nobody's selling for any less than that. Congratulations, it's now a billion dollar company. Now some people realize it's a bubble and lower their sell price to 10 dollars. A few people buy. It's now a 10 million dollar company. 990 million was wiped off the stock market. That obviously simplifies it but you get the point. permalink fedilink source parent [–] krisevol@lemmus.org -1 points 2 months ago (6 children) It moves when other buy and sell yes, but think about elon holding the stock. He "lost billions" but no money moved. So in this case the money never existed. permalink fedilink source parent hideshow 6 child comments replies: [–] conquer4@lemmy.world 10 points 2 months ago (2 children) If you can use it as collateral, then it exists just as much as a house or property does. permalink fedilink source parent hideshow 2 child comments replies: [–] NihilsineNefas@slrpnk.net 2 points 2 months ago I dread to think what he managed to spend it on this past couple of months. Hopefully no more "judo lessons" on suspicious islands permalink fedilink source parent [–] krisevol@lemmus.org -1 points 2 months ago The stock exists yes, but the money didn't exist. It only exists one you loan out then money is "created" though fractional lending. No elon created trillions of cash, not hoarded. permalink fedilink source parent [–] huppakee@lemmy.world 4 points 2 months ago There is two truths to this: not 100% of the company exchanged hands. The part that hasn't changed hands only lost perceived value, no money has moved. The part that is exchanging hands is real people losing and winning real money. permalink fedilink source parent [–] UnderpantsWeevil@lemmy.world 2 points 2 months ago* (1 child) So much of this is blogger brain, with people hearing rumors based on clickbait headlines, and having no idea how the money moved around. The major index that bought into SpaceX on IPO day was the NASDAQ-100. S&P and DOW indexes have not yet included it. While US ETFs currently own around $16 billion worth of the stock across 179 ETF products, that's around 1% of the total market cap of the firm. The single largest shareholder - at around 44% of the market cap - is Elon himself. Another 20-odd% is owned by various private equity funds that are a whose-who of the modern tech sector - Google, Peter Thiel’s Founders Fund, Sequoia Capital, and Andreessen Horowitz - along with your standard assortment of Wall Street banks - Baillie Gifford, Baron Capital Group, T. Rowe Price, and Valor Equity Partners. Nobody has actually cashed out yet, in any meaningful capacity. But because the stock slipped off it's IPO high, we're getting a bunch of screaming know-nothings who insist they've all been robbed. permalink fedilink source parent hideshow 1 child comment replies: [–] krisevol@lemmus.org 1 point 2 months ago Well put! permalink fedilink source parent [–] elucubra@sopuli.xyz 4 points 2 months ago (1 child) It does exist. People used it to buy overvalued stock and people who knew how this was going to go got their money. The money is real, it just changed hands. permalink fedilink source parent hideshow 1 child comment replies: [–] boonhet@sopuli.xyz 1 point 2 months ago Yes, but that doesn't mean it was a trillion dollars that changed hands, or even anywhere close to a trillion necessarily. permalink fedilink source parent
[–] ExLisper@lemmy.curiana.net 14 points 2 months ago (8 children) It does exist and it was moved from poor people to the rich. As always. permalink fedilink source parent hideshow 8 child comments replies: [–] boonhet@sopuli.xyz 6 points 2 months ago Well yes but that doesn't mean an entire trillion dollars existed first. Valuation goes by the latest trade price, not total purchase price of all stocks. A million people could all buy a share of something that has a million shares for 1 dollar and then the some person buys one off one of the investors for 1000 dollars and nobody's selling for any less than that. Congratulations, it's now a billion dollar company. Now some people realize it's a bubble and lower their sell price to 10 dollars. A few people buy. It's now a 10 million dollar company. 990 million was wiped off the stock market. That obviously simplifies it but you get the point. permalink fedilink source parent [–] krisevol@lemmus.org -1 points 2 months ago (6 children) It moves when other buy and sell yes, but think about elon holding the stock. He "lost billions" but no money moved. So in this case the money never existed. permalink fedilink source parent hideshow 6 child comments replies: [–] conquer4@lemmy.world 10 points 2 months ago (2 children) If you can use it as collateral, then it exists just as much as a house or property does. permalink fedilink source parent hideshow 2 child comments replies: [–] NihilsineNefas@slrpnk.net 2 points 2 months ago I dread to think what he managed to spend it on this past couple of months. Hopefully no more "judo lessons" on suspicious islands permalink fedilink source parent [–] krisevol@lemmus.org -1 points 2 months ago The stock exists yes, but the money didn't exist. It only exists one you loan out then money is "created" though fractional lending. No elon created trillions of cash, not hoarded. permalink fedilink source parent [–] huppakee@lemmy.world 4 points 2 months ago There is two truths to this: not 100% of the company exchanged hands. The part that hasn't changed hands only lost perceived value, no money has moved. The part that is exchanging hands is real people losing and winning real money. permalink fedilink source parent [–] UnderpantsWeevil@lemmy.world 2 points 2 months ago* (1 child) So much of this is blogger brain, with people hearing rumors based on clickbait headlines, and having no idea how the money moved around. The major index that bought into SpaceX on IPO day was the NASDAQ-100. S&P and DOW indexes have not yet included it. While US ETFs currently own around $16 billion worth of the stock across 179 ETF products, that's around 1% of the total market cap of the firm. The single largest shareholder - at around 44% of the market cap - is Elon himself. Another 20-odd% is owned by various private equity funds that are a whose-who of the modern tech sector - Google, Peter Thiel’s Founders Fund, Sequoia Capital, and Andreessen Horowitz - along with your standard assortment of Wall Street banks - Baillie Gifford, Baron Capital Group, T. Rowe Price, and Valor Equity Partners. Nobody has actually cashed out yet, in any meaningful capacity. But because the stock slipped off it's IPO high, we're getting a bunch of screaming know-nothings who insist they've all been robbed. permalink fedilink source parent hideshow 1 child comment replies: [–] krisevol@lemmus.org 1 point 2 months ago Well put! permalink fedilink source parent
[–] boonhet@sopuli.xyz 6 points 2 months ago Well yes but that doesn't mean an entire trillion dollars existed first. Valuation goes by the latest trade price, not total purchase price of all stocks. A million people could all buy a share of something that has a million shares for 1 dollar and then the some person buys one off one of the investors for 1000 dollars and nobody's selling for any less than that. Congratulations, it's now a billion dollar company. Now some people realize it's a bubble and lower their sell price to 10 dollars. A few people buy. It's now a 10 million dollar company. 990 million was wiped off the stock market. That obviously simplifies it but you get the point. permalink fedilink source parent
[–] krisevol@lemmus.org -1 points 2 months ago (6 children) It moves when other buy and sell yes, but think about elon holding the stock. He "lost billions" but no money moved. So in this case the money never existed. permalink fedilink source parent hideshow 6 child comments replies: [–] conquer4@lemmy.world 10 points 2 months ago (2 children) If you can use it as collateral, then it exists just as much as a house or property does. permalink fedilink source parent hideshow 2 child comments replies: [–] NihilsineNefas@slrpnk.net 2 points 2 months ago I dread to think what he managed to spend it on this past couple of months. Hopefully no more "judo lessons" on suspicious islands permalink fedilink source parent [–] krisevol@lemmus.org -1 points 2 months ago The stock exists yes, but the money didn't exist. It only exists one you loan out then money is "created" though fractional lending. No elon created trillions of cash, not hoarded. permalink fedilink source parent [–] huppakee@lemmy.world 4 points 2 months ago There is two truths to this: not 100% of the company exchanged hands. The part that hasn't changed hands only lost perceived value, no money has moved. The part that is exchanging hands is real people losing and winning real money. permalink fedilink source parent [–] UnderpantsWeevil@lemmy.world 2 points 2 months ago* (1 child) So much of this is blogger brain, with people hearing rumors based on clickbait headlines, and having no idea how the money moved around. The major index that bought into SpaceX on IPO day was the NASDAQ-100. S&P and DOW indexes have not yet included it. While US ETFs currently own around $16 billion worth of the stock across 179 ETF products, that's around 1% of the total market cap of the firm. The single largest shareholder - at around 44% of the market cap - is Elon himself. Another 20-odd% is owned by various private equity funds that are a whose-who of the modern tech sector - Google, Peter Thiel’s Founders Fund, Sequoia Capital, and Andreessen Horowitz - along with your standard assortment of Wall Street banks - Baillie Gifford, Baron Capital Group, T. Rowe Price, and Valor Equity Partners. Nobody has actually cashed out yet, in any meaningful capacity. But because the stock slipped off it's IPO high, we're getting a bunch of screaming know-nothings who insist they've all been robbed. permalink fedilink source parent hideshow 1 child comment replies: [–] krisevol@lemmus.org 1 point 2 months ago Well put! permalink fedilink source parent
[–] conquer4@lemmy.world 10 points 2 months ago (2 children) If you can use it as collateral, then it exists just as much as a house or property does. permalink fedilink source parent hideshow 2 child comments replies: [–] NihilsineNefas@slrpnk.net 2 points 2 months ago I dread to think what he managed to spend it on this past couple of months. Hopefully no more "judo lessons" on suspicious islands permalink fedilink source parent [–] krisevol@lemmus.org -1 points 2 months ago The stock exists yes, but the money didn't exist. It only exists one you loan out then money is "created" though fractional lending. No elon created trillions of cash, not hoarded. permalink fedilink source parent
[–] NihilsineNefas@slrpnk.net 2 points 2 months ago I dread to think what he managed to spend it on this past couple of months. Hopefully no more "judo lessons" on suspicious islands permalink fedilink source parent
[–] krisevol@lemmus.org -1 points 2 months ago The stock exists yes, but the money didn't exist. It only exists one you loan out then money is "created" though fractional lending. No elon created trillions of cash, not hoarded. permalink fedilink source parent
[–] huppakee@lemmy.world 4 points 2 months ago There is two truths to this: not 100% of the company exchanged hands. The part that hasn't changed hands only lost perceived value, no money has moved. The part that is exchanging hands is real people losing and winning real money. permalink fedilink source parent
[–] UnderpantsWeevil@lemmy.world 2 points 2 months ago* (1 child) So much of this is blogger brain, with people hearing rumors based on clickbait headlines, and having no idea how the money moved around. The major index that bought into SpaceX on IPO day was the NASDAQ-100. S&P and DOW indexes have not yet included it. While US ETFs currently own around $16 billion worth of the stock across 179 ETF products, that's around 1% of the total market cap of the firm. The single largest shareholder - at around 44% of the market cap - is Elon himself. Another 20-odd% is owned by various private equity funds that are a whose-who of the modern tech sector - Google, Peter Thiel’s Founders Fund, Sequoia Capital, and Andreessen Horowitz - along with your standard assortment of Wall Street banks - Baillie Gifford, Baron Capital Group, T. Rowe Price, and Valor Equity Partners. Nobody has actually cashed out yet, in any meaningful capacity. But because the stock slipped off it's IPO high, we're getting a bunch of screaming know-nothings who insist they've all been robbed. permalink fedilink source parent hideshow 1 child comment replies: [–] krisevol@lemmus.org 1 point 2 months ago Well put! permalink fedilink source parent
[–] elucubra@sopuli.xyz 4 points 2 months ago (1 child) It does exist. People used it to buy overvalued stock and people who knew how this was going to go got their money. The money is real, it just changed hands. permalink fedilink source parent hideshow 1 child comment replies: [–] boonhet@sopuli.xyz 1 point 2 months ago Yes, but that doesn't mean it was a trillion dollars that changed hands, or even anywhere close to a trillion necessarily. permalink fedilink source parent
[–] boonhet@sopuli.xyz 1 point 2 months ago Yes, but that doesn't mean it was a trillion dollars that changed hands, or even anywhere close to a trillion necessarily. permalink fedilink source parent