I don’t think we should accept those people’s money anymore - what are these billions, trillions, gazillions, schmoozillions even supposed to be anymore. I’m happy to trade in sea shells or your kiddo’s drawings with you instead if you have an honest face!
SpaceX stock drops to a new low and loses $1 trillion in value in a month
Submitted 4 days ago by remington@beehaw.org to technology@beehaw.org
https://www.businessinsider.com/spacex-stock-drops-new-low-ipo-price-starship-launch-scrubbed-2026-7
Comments
schmorpel@slrpnk.net 4 days ago
FukOui@lemmy.zip 3 days ago
Correction: Lost a trillion in speculative value. There’s a difference
krisevol@lemmus.org 3 days ago
And people want to tax this speculative value.
t3rmit3@beehaw.org 3 days ago
Any time you attempt to convert it into a usable asset, including using it as collateral or citing it as an asset for loans or investment capital solicitation, it should be taxed. Once someone accepts its value in exchange for something, it’s no longer speculative.
bless@lemmy.ml 2 days ago
If you say it’s worth a trillion, then you should put your money where your mouth is
HubertManne@piefed.social 4 days ago
its just absolutely crazy to buy shares in a company where special super shares where made to make sure anyone buying shares could never own or control the company.
InevitableList@beehaw.org 2 days ago
Not really. I’ve never been to a shareholder meeting and never will. I buy stocks to turn a profit from dividends and appreciation not to get a chance to micromanage the company.
HubertManne@piefed.social 2 days ago
fair enough but if shareholders don’t control the company then there might be to much of a need for the owners salary for dividends. which is why you don’t buy that crap.
dragginupagain@lemmy.today 3 days ago
Extremely funny to think that stocks primarily have value and that people buy stocks for the shareholder votes.
HubertManne@piefed.social 3 days ago
Their value is in ownership which includes say in how its run. I mean stocks have been nuts for a while P/E and P/B and D/E and D/A are things of the past.
GregorGizeh@lemmy.zip 3 days ago
Is it? That is, if i were to own a public company, the only way i would ever allow anyone else to own a part of it. It is my company, i don’t want fucking shareholders pressure me for more profits and shortsighted decisions. If the vultures want a share of the profits they get just that, not a voice at the table.
Kazumara@discuss.tchncs.de 3 days ago
i were to own a public company
It is my company
No, by definition it is not, if you sell part of it to the public and make it a public company.
Pyr_Pressure@lemmy.ca 3 days ago
That is literally the entire point of shares. You buy a percentage of the company and give them money so they can use that money to expand and develop.
Why would I give a company money if I don’t get a percentage of that company? It’s not a fuckin donation.
TehPers@beehaw.org 2 days ago
If you’re in a position to dictate what shareholders get, you have no real reason to go public. Just keep it privately owned.
You go public to raise funds. The least reasonable thing to do to someone is ask them for money with a pinky promise that they might make a profit. Usually, those people are going to want something in return, like a say in how their money is spent.
HubertManne@piefed.social 3 days ago
Yes. I realize someone else explained it to you but you as the owner would love to sell it that way but others as a buyer would be nuts to buy your shares. Its not crazy to sell shares that way its crazy to buy them.
trainsrkool@lemmy.ml 4 days ago
lightnsfw@reddthat.com 3 days ago
I’m not gonna care about this unless it gets bad enough to get musk to kill himself.
Drusas@fedia.io 3 days ago
He got what he wanted: going down as the world's first trillionaire.
Hairyfishnuts@feddit.online 4 days ago
[deleted]floofloof@lemmy.ca 4 days ago
You mean ordinary Americans will.
PointyFluff@lemmy.ml 2 days ago
HAHAHAHAHAHAHAHA🤣🤣🤣🤣
fonix232@fedia.io 4 days ago
Ah fuck, I knew I shoulda shorted it...
helix@feddit.org 3 days ago
Don’t be sad, I shorted it but didn’t put waaaay enough money into that endeavour to make me rich.
DragonTypeWyvern@midwest.social 3 days ago
I mean this market didn’t just stay irrational for five years past due, it’s still wildly irrational.
AlexisFR@jlai.lu 3 days ago
I really liked SpaceX as a rocket company, why did all that AI BS had to be attached to it??
Deyis@beehaw.org 3 days ago
Because it was the only way for the Nazi Elon Musk to effectively launder money and glaze over his repeated failures in a way which still preserves his wealth.
Quexotic@beehaw.org 2 days ago
So how much damage did it do to our retirement funds?
helix@feddit.org 3 days ago
I made 29% shorting SpaceX already, should I hodl or sell my position at some point? Do we think it’ll ever recover?
sobchak@programming.dev 3 days ago
If it’s like Tesla stock, it will behave completely irrationally. Though, I guess most of the stock market is irrational now.
k_rol@lemmy.ca 3 days ago
Now? The whole thing has always been based on human feelings, that’s the point. I think you mean it is more volatile now? Or maybe it changes more radically?
apotheotic@beehaw.org 3 days ago
We’re talking about a business led by the richest person in the world who has already made it entirely clear he can buy his way to anything he desires. 30% is a tidy sum, I’d lock it in and call it a day.
supersquirrel@sopuli.xyz 3 days ago
It will not, not permanently.
anachronist@midwest.social 1 day ago
Lockups start expiring next month. They’ve still only floated less than 5% of the company! Buckle up buttercup.
belated_frog_pants@beehaw.org 3 days ago
Ha Ha 👉
The_Che_Banana@beehaw.org 4 days ago
Biggest pump and dump scheme yet… Now come the gov bailout to keep the company afloat while dismantling NASA further
777@lemmy.ml 2 days ago
I was looking at this a while back, and I don’t think insiders can sell for a while yet, but I think this really has been a gift to short sellers.
In the end, I didn’t end up buying into the IPO because it seemed overpriced, and while I do like the idea of some of the business (Starlink) I don’t understand why it’s got to come with a fucking social network of all things.