SpaceX Drops 14% in One Day, Price Now Below IPO Launch(finance.yahoo.com)
47 pointsby root-parent3 hours ago13 comments
  • pera2 hours ago
    -16.5% at the moment... Is the market reacting to the $20B bond offering news?

    https://www.bloomberg.com/news/articles/2026-06-22/spacex-ki...

  • stackbutterflow2 hours ago
    Not convinced it means anything in one way or another.

    I remember the same headlines right after Facebook's IPO. The discourse was very much that it was obvious that a website to connect with your friends wouldn't make money.

  • lucamark2 hours ago
    Let's grab some popcorn.

    - Price/Sales about 128x (NVIDIA had a peak of a 40x at its peak)

    - Bought Twitter per 44 billions. Inflated its valuation to $250 billion just by integrating it into X.AI

    - EnterpriseValue/EBITDA about 219x (30x for scaleup business) and negative Price-to-Earnings

    - Low free-float trick (minimal public shares available)

    Even the market efficiency hypothesis struggles to justify it

    • redox99an hour ago
      If the Anthropic, Google, and Reflection AI deals stay afloat, the numbers are much better.
    • tcp_handshaker2 hours ago
      Spare a thought for the investors who bought SPCX at $218 on the 16 June at 10:00AM...They REALLY needed that stock....
      • lucamarkan hour ago
        That's bad for ETF owners too. Funds will be legally forced to buy a tightly restricted supply that will pump the price even more
  • dolmen2 hours ago
    What a surprise!
  • cdrnsf2 hours ago
    A rapid unscheduled financial disassembly.
    • drivingmenuts11 minutes ago
      If my schadenfreude grows anymore, I might burst into tears.
  • mrcwinn2 hours ago
    For the sake of clarity, it's well above its historic IPO price, but near or slightly below where it began trading that day once it officially opened.
    • jeremywho2 hours ago
      Historic IPO price? It opened at $160 10 days ago, did it not? Currently it is below that price. What historic price are you referring to?
  • elzbardico2 hours ago
    QUOD ERAT DEMONSTRANDUM
  • lousken2 hours ago
    why would you even invest into this bubble
  • empath752 hours ago
    The IPO price for SpaceX was _delusional_. The price now is delusional. Especially since it's so dependent on the US government for revenue and he's done everything possible to irritate the party that's about to take over the federal budget.
    • tombert2 hours ago
      It was insane to me that a company that had less than thirty-billion in revenue was valued at more than a trillion. I'm not sure how the People in Charge didn't call bullshit.
      • ifwinterco2 hours ago
        The way exponential maths works, if a company really can grow at (for example) 10% per annum then it can grow into what looks initially like a very high PE multiple on current earnings surprisingly quickly.

        This is why people sometimes use forward P/E but that does have the obvious drawback of the denominator not actually existing yet.

        However with SpaceX the valuation is extreme and also can they grow at that rate for years on end? Potentially not

  • strathmeyer2 hours ago
    [dead]
  • josefritzishere2 hours ago
    I think it was completely obvious from the outset that this was a pump and dump scam. I'm waiting for the insider trading charges to hit.
  • OnlyANeurosci2 hours ago
    pump and dump scheme, but your 401k bought some.
    • ttcbj2 hours ago
      One thing I learned recently is that Vanguard Total Stock Market Index (VTI) is float-weighted. That means that SpaceX's percentage in the index is based on the value of the floating shares, not the total market cap. As a result, a fund like VTI, for now, doesn't have that much SpaceX. It will add more as the lockup periods expire and the float increases, but increasing float might also drive down the price.
    • netsharc2 hours ago
      Do 401k's know about pump-and-dump, but think they can time it to make profit? Or are 401ks "bound" to buy stocks?

      It feels like a lot of retail buyers know the emperor is naked, but are still acting on greed, thinking they can "catch the falling knife" and time the market departure to profit from the hype...

      • tombert2 hours ago
        I think it's much simpler. A lot of funds are tied to things like the NASDAQ-100, which SpaceX figured out how to get fast-tracked for. Once it's officially on the NASDAQ-100, stuff like QQQ has to buy it, whether or not people like the idea of it.

        Of course active investors could do something like short Space X by exactly the amount that their funds have to more or less "cancel out" their investment, but most people aren't active investors.

      • smw2 hours ago
        A lot of them are heavily invested in index funds that added SpaceX at IPO due to market cap.
        • wrs2 hours ago
          The big indexes have a cooldown period before buying, which these scam artists attempted to radically shorten before the IPO, but they failed (at least partially). The S&P500, for example, will delay a year before adding it to the index. Nasdaq 100 was talked into reducing it to 15 days, so you might want to get out of the Nasdaq 100.
          • tombert2 hours ago
            I got rid of all my QQQ, which was substantial, but I didn't convert all my vulnerable portfolio because I wanted to minimize how much I pay in taxes.

            I now use the Interactive Brokers MCP to make a "pseudo QQQ" which has all companies except Tesla and SpaceX in there, and I otherwise use the same weights as the official QQQ. In order to avoid tax overhead, my rebalancing is buy-only, no selling, so it's not a perfect analog to QQQ but it's close enough and I at least got some of my capital out of SpaceX.

          • 0cf8612b2e1e2 hours ago
            S&P still requires one year(?) profitability, which SpaceX has yet to achieve. The recent datacenter rentals might have pushed it into a profitable quarter.
    • jerjerjer2 hours ago
      They didn't even start on the dump part yet. Only initial 5% of the shares are trading so far.
    • 2 hours ago
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    • SpicyLemonZest2 hours ago
      Notably, today was the first batch of additions, which really does lend credence to the idea that it's just about people getting out after the forced buying. We'll see what happens in early July when it makes it into the Nasdaq 100.