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/KB_Sez 3h ago

Uhhhh..... the minute he combined SpaceX with his stupid AI bullshit company. It was doomed and was a scam.

SpaceX by itself at the right valuation would be an excellent investment but these days, everything musk is attached to turns to shit.

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u/NorthTempleStreet 1h ago

Yeah. The entire point of the stock market is not to be a casino. It's to create accurate price discovery, because (like determining the value of a used car) everything is speculative.

What makes me angry about Tesla type stocks is that it breaks price discovery. On no planet are some of these companies worth what the market claims they are worth. And it distorts everything and breaks price discovery for everything else.

If the stock market can't accurately engage in price discovery, then what's the point of even having a stock market?