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Looks like SpaceX are the Taco Bell lettuce (thelemmy.club)

submitted 1 day ago by allende2001@lemmygrad.ml to c/chapotraphouse@hexbear.net

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[-] LeeeroooyJeeenkiiins@hexbear.net 21 points 1 day ago

What the fuck even happened lol like i googled it and i guess they had to delay another launch? i get that that's bad but their entire shit has been delayed launches, why did this one make a trillion imaginary dollars disappear? it's essentially the same company and situation unless this lost them a bunch of govt contracts or something

[-] spectre@hexbear.net 30 points 1 day ago

The stock just IPOed a few weeks so it also hasn't settled in to a stable "market price" just yet, especially with Musk hypeboys inflating the price at first.

[-] btbt@hexbear.net 18 points 1 day ago* (last edited 1 day ago)

Didn’t a bunch of indexes also make a rule that basically meant a bunch of hedge funds/pension funds were forced into buying SpaceX at IPO to drive the price up even more? I wonder how that’ll factor in to the global us-foreign-policy index’s corruption rating for the US clueless

[-] KurtVonnegut@hexbear.net 23 points 1 day ago* (last edited 1 day ago)

Actually most indexes rejected that requirement, it's only the Nasdaq that is forced to buy: https://finance.yahoo.com/markets/stocks/articles/nasdaq-cheated-changed-laws-fit-193113947.html

[-] btbt@hexbear.net 16 points 1 day ago* (last edited 1 day ago)

That’s good to hear, I remember when Nortel crashed here in Canada it fucked over so many retirees, hopefully that won’t happen in this case

[-] invalidusernamelol@hexbear.net 11 points 1 day ago

My 401k is mostly Vanguard index and it's still doing okay. Up ~10% this year? I think that's mostly oil...it only has like $5k in it so it's not like it really matters anyway lol

[-] LeeeroooyJeeenkiiins@hexbear.net 13 points 1 day ago

Ah i see. With everything decoupled from reality from start to finish i wonder where this is gonna bottom out, or if it'll go back up and be even higher than before because nothing makes sense anymore

[-] KurtVonnegut@hexbear.net 15 points 1 day ago

The real story is that the SpaceX "IPO" only released a small percentage of shares in SpaceX. And as time goes on, more employees and founders of SpaceX will have their shares "unlocked" so that more and more of the company is for sale.

TL;DR: the stock price will fall way lower lol

https://www.reuters.com/legal/transactional/spacex-selloff-an-ominous-sign-lockup-expiry-looms-2026-07-16/