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SpaceX Stock Plummets Below IPO Price as $1 Trillion Vanishes (townflex.com)
submitted 2 months ago by to c/technology@lemmy.world
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[–] 19 points 2 months ago (2 children)

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.

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  • [–] 9 points 2 months ago* (last edited 1 month ago)

    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).

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