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.
this post was submitted on 18 Jul 2026
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The world's first ex-trillionaire. Back to tres commas for you.
When the IPO first was announced I made the point that Elon Musk isn't now a trillionaire because not one will buy the stock at that price. Overinflated IPOs aren't really relevant to the stock market, they already knew the value of a company they don't need to be told what it is, they're just a marketing gimmick.
Obvious Pump & Dump Sees Investor Slump, more at 11
And the most predictable and obvious one to ever be committed.
If I coukd afford puts I would have done it, saw this from a mile away
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.
And how SpaceX got into the NASDAQ is very corrupt. They fast tracked SpaceX's IPO by breaking their own rules but still applied the same old rules to any companies applying for IPO after SpaceX. The folks In NASDAQ must have gotten under the table financial incentive from Musk.
Hope both SpaceX keeps dropping and NASDAQ faces a class action for this obviously corruption.
The delusional people run the world these days, unfortunately.
Pretty sure it's conmen running the world, with the delusional propping them up
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I knew I should have shorted it 😭
The market can stay irrational longer than you can stay solvent.
The stock hit $123 on Friday. It's still got a $1.6T market cap. I have no idea where they got that headline from.
Because the high was just over $200. They are talking from its peak.
I have no idea where they got that headline from.
The "IPO price" for institutions (banks, hedge funds, a tiny bit for retail brokers) was $135. It opened on the public market at $150-something.
Still perhaps more than the company is worth, but at this point an institution that fought to get in on the IPO would be down 23% (unless they dumped it, which plenty did).
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.
Maybe it's been on a downward trend because of SpaceX?
Im pretty sure that is what they are implying
Well then, SpaceX did them no favour because they would've profited off their NASDAQ fund investment if not for them.
No.... as they said, they had already sold. If spacex never joined or they sold later, they wouldve lost money
I assumed that they dumped their NASDAQ fund because it was about to carry SpaceX.
I dumped mine because of the war. Missing the spacex slump was just a plus
Not to worry I'm sure the trillion was mostly just from pleb 401ks.
That trillion doesn't exist. It didn't go anywhere.
It does exist and it was moved from poor people to the rich. As always.
Well yes but that doesn't mean an entire trillion dollars existed first. Valuation goes by the latest trade price, not total purchase price of all stocks.
A million people could all buy a share of something that has a million shares for 1 dollar and then the some person buys one off one of the investors for 1000 dollars and nobody's selling for any less than that. Congratulations, it's now a billion dollar company. Now some people realize it's a bubble and lower their sell price to 10 dollars. A few people buy. It's now a 10 million dollar company. 990 million was wiped off the stock market.
That obviously simplifies it but you get the point.
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"vanishes" from the pockets of buyers into the pockets of the IPOers
Good. Choke on it, Elon.
Musk = POS Nazi.
It's a GOOD thing Illegal Immigrant Elon Musk FORCED YOU to Invest in this Company with your Retirement Accounts!
A very interesting point.
Your retirement account has to follow some rules, for example to buy large ETFs. Large ETFs have to follow stock indexes. Stock indexes have to include "big" companies.
So when a big AND inflated company comes along, makes it into the index, and then deflates, you all are screwed automatically and by all the rules.
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.
Musk is the world's first zeronaire.
Hey, I was here first!
Who could possibly have foreseen this! It's an utter mystery!
Shame the SEC will not stomp on the neo-Nazi.
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.
Wonderful. Keep going!
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?
And they probably didn't even say thank you for the opportunity.
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1 trillion to go!
Who could have seen that coming
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