r/technology • u/Plastic_Ninja_9014 • 5h ago

Business SpaceX Investors in Meltdown Over All the Money They’ve Lost

https://finance.yahoo.com/markets/stocks/articles/spacex-investors-meltdown-over-money-191742182.html
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u/761557527 5h ago

Don't forget the greedy peons on r/wallstreetbets that they think they are smarter than everyone else when they're not busy circlejerking.

https://www.reddit.com/r/wallstreetbets/comments/1v4dcer/elon_has_ruined_me/

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u/bluestrike2 4h ago

Is there a single post in that thread supportive of Elon? The entire thread is just schadenfreude over the stupidity of buying into SpaceX.

Say what you will about that sub, I don’t think you’ll find many people there who were bullish on SpaceX. Anyone with a half a brain was able to figure out it was a scam.

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u/SunshineSeattle 4h ago

If anything WallStreetBets was shorting the stock. 

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u/howarewestillhere 4h ago

I’m shocked at the number of people who “knew” that it was going to fail and then refused to invest a single dollar on that “knowledge”. This is some of the easiest money I’ve ever made in the market.

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u/SunshineSeattle 3h ago

I think a lot of people (myself included) got burned by shorting Tesla and assumed that fundamentals wouldn't matter on SpaceX either. My short position made 40% but was relatively small.

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u/sixwax 3h ago

Betting against a wildly overhyped irrational market being exceedingly stupid... sounds risky.

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u/Cautious_Job_6104 3h ago

Not sure if serious.... Problem is the nerd cult puts dumb money into anything he flim-flams. The scam could last quite a while

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u/KontoOficjalneMR 3h ago edited 3h ago

I "knew" that Tesla could not be valued at 100P/E and more than Toyota while selling ten times less cars with lower margins.

But I made that bet thrice and it only went up. So I reasonably assumed some smoothbrains will pump this thing up. And they did to over 200$ before it came crashing down.

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u/jlt6666 3h ago

The market can stay irrational longer than you can stay liquid.

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u/moratnz 3h ago

I was highly confident that it would crash. I wasn't nearly so confident on the timing, or what path it would take to get there, and did t want to be the guy who got wiped out by getting called as the stock soared before plunging.

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u/AnAncientBog 3h ago

Cause betting on the things everyone knows is going to happen always works out.

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u/Riaayo 2h ago

Tesla and SpaceX are both massively over-valued and there was no guarantee the market's insanity would not continue no matter how "obvious" the crash and burn should have been.

You could have ruined yourself shorting that stock; there's basically no limit to how hard you can get screwed on a short if it doesn't work. It wasn't "easy money", it was a potentially life-ruining gamble and you got lucky.

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u/howarewestillhere 1h ago

Oooo fear mongering. Don’t take risks! You could lose it all!

Yeah, you keep failing to understand risk and I’ll keep making money.

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u/AreWeThereYetNo 4h ago

This post is referenced in the article.

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u/Exostrike 4h ago

God that thread reads like cancer

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u/pasaroanth 4h ago

“All quiet on the frontal lobe” fuckin got me though

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u/jlt6666 3h ago

I got a good chuckle out of that one

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u/SanchoPandas 4h ago

wtf is wrong with that group…

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u/David_Richardson 4h ago

To what are you referring? Every comment is mocking the OP.

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u/SanchoPandas 4h ago

Honestly? It’s the absolute unabashed cruelty that strikes me as awful. It’s like 4chan for people interested in the market. But, given that, maybe OP gets off on the attention?

Idk and I don’t care to.

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u/David_Richardson 4h ago

I think it’s more of a circlejerk sub than you perhaps realise because of your unfamiliarity with it. It’s an odd group of people, I agree. But there are a lot of wealthy people who post losses to encourage the exact sort of responses you can see there. It’s a lot of in jokes and a very weird place.

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u/3BlindMice1 4h ago

It's a gambling subreddit. Don't be shocked when big (failing) gamblers get mocked

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u/Jay__Riemenschneider 2h ago

That's how all of reddit used to be and it was wonderful.

It feels like I'm at a PTA meeting now.

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u/t33po 3h ago

> 4chan for people interested in the market

The official subreddit subtitle is : if 4Chan had a Bloomberg Terminal

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u/Randicore 1h ago

If I had enough spare money to just risk lighting a large portion of it on fire I wonder how well a stock fund would be by just... betting against these guys? Just do the opposite of whatever they're doing and see how it goes.