It didn't vanish. The early investors got their money and the naive buyers left holding their empty bags.
This is what they call exit liquidity.
Exit liquidity refers to investors who buy assets at inflated prices, enabling earlier investors to sell at a profit.
These later investors often incur losses as asset values decline.
It is very common in crypto and in volatile tech stocks.
It's a GOOD thing Illegal Immigrant Elon Musk FORCED YOU to Invest in this Company with your Retirement Accounts!
No shit. A valution of 100x more than yearly revenue (never mind profits) should never have existed in the first place, and was most certainly a pump and dump.
Anyone who actually thought the stock price was going up from there was delusional.
Obvious Pump & Dump Sees Investor Slump, more at 11
Not to worry I'm sure the trillion was mostly just from pleb 401ks.
The world's first ex-trillionaire. Back to tres commas for you.
In a way SpaceX did me a favor. I dumped my NASDAQ composite fund before they started carrying SpaceX. It's been on a downward trend ever since.
I knew I should have shorted it 😭
Who could possibly have foreseen this! It's an utter mystery!
Typical of a lot of stock IPO. People just gonna do pump and dump at the beginning, whether they recover from this later is the challenge. It's the reason why i don't look at IPO anymore, i'm not as fast nor as rich as those career trader so it's high chance for me to lose money.
Musk is the world's first zeronaire.
"vanishes" from the pockets of buyers into the pockets of the IPOers
Wonderful. Keep going!
Musk is already the person who lost the most wealth a while ago (biggest loser ever to have walked this earth). So now he beats his own record.
Good. Choke on it, Elon.
So every investor who had faith in SpaceX as a central supporting column of the USAs future in space was robbed of money by the greed of wall street and SpaceX executives?
What I find interesting about this is that everybody knew exactly what would happen, and then it happened. It's a perfect counterexample to the logic of "this system isn't perfect, but it's the best thing we have." It's just the rich and powerful using leveraging their wealth and power to become even more so, and under the current rules nobody can stop them.
Who could have seen that coming
A trillion vanishes and nobody knows if anyone made money from this......
Shame the SEC will not stomp on the neo-Nazi.
Yay
1 trillion to go!
Damnation. I only made $20k from the downturn.
It's a $60 share hasn't even unlocked for the employees to sell theirs yet so can only go down from here.
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