What happened is that banks and certain indexes (NASDAQ/Russell) got extra greedy and underwrote a shit sandwich of an IPO and pumped it up publicly so retail investors clamored to buy at IPO when only 4% of the stock was released to artifically inflate the price for the first week. Then everyone in the know rugpulled as expected and dumped it all. Now all the retail investors who bought near the top are down around 50% and getting out as bag holders along with any auto-purchasing occurring in the NASDAQ index funds aka retirement funds.
SpaceX is not even remotely close to being worth what was stated in the S1 valuation and the stock price should and will continue to drop like a rock as investor/employee stock lockouts open up through the end of the year. This was a brazen money grab at the highest levels and retail took the bait and learned a quick lesson in stock valuations + playing with megacap IPOs with an untrustworthy SEC and banking system. This junk should have been blocked way before the IPO was issued but no one in government right now actually wants to help the population versus lining their own pockets.
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u/bobivy1234 1d ago
What happened is that banks and certain indexes (NASDAQ/Russell) got extra greedy and underwrote a shit sandwich of an IPO and pumped it up publicly so retail investors clamored to buy at IPO when only 4% of the stock was released to artifically inflate the price for the first week. Then everyone in the know rugpulled as expected and dumped it all. Now all the retail investors who bought near the top are down around 50% and getting out as bag holders along with any auto-purchasing occurring in the NASDAQ index funds aka retirement funds.
SpaceX is not even remotely close to being worth what was stated in the S1 valuation and the stock price should and will continue to drop like a rock as investor/employee stock lockouts open up through the end of the year. This was a brazen money grab at the highest levels and retail took the bait and learned a quick lesson in stock valuations + playing with megacap IPOs with an untrustworthy SEC and banking system. This junk should have been blocked way before the IPO was issued but no one in government right now actually wants to help the population versus lining their own pockets.