this post was submitted on 24 Jun 2026
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267
SpaceX Shares Fall Below $150 Debut Price For First Time (www.forbes.com)
submitted 1 day ago by sanitation@lemmy.today to c/technology@lemmy.world
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[–] uriel238@lemmy.blahaj.zone 6 points 7 hours ago (1 children)

I'm confused. The IPO was $135 per share.

I'm not confused about the drop. Most analysts said that was a bear price anyway, and it was based on a lot of outrageous promises and valuation of xAI and Starlink, neither of which is very strong right now.

Essentially, Musk sold SpaceX the way he sells anything, making outrageous long-term promises that are unlikely to be realized, hence we don't have a fleet of self-driving Tesla taxis already.

The sooner SpaceX falls to a more realistic valuation, the safer it is for everyone whose pension funds depend on the Nasdaq-100.

[–] ikidd@lemmy.dbzer0.com 5 points 5 hours ago

135 was for the institutional investors that sponsored it. 150 was the opening price for the hoi-poloi.

[–] FlashMobOfOne@lemmy.world 22 points 19 hours ago (2 children)

While I wouldn't recommend investing in SpaceX (or any company contingent on Elon Musk's wild claims, which often prove to be unfounded), investing in general is volatile and share prices fluctuate daily.

What's wild is that SpaceX' satellite Internet product is actually really good, but the valuation of this company is insane and that retail investors have no voting rights is a huge red flag, and therefore it's important to stay the fuck away.

[–] postman@literature.cafe 1 points 4 hours ago

I repeatedly scorned Tesla shares because they are an awful company doing very badly and living on hype from their insane leader. But do I wish I bought 10 years ago...? It's gone 30x since then.

[–] ayyy@sh.itjust.works 11 points 16 hours ago (1 children)

Their internet offering isn’t good at all because there are no safeguards in place to stop a literal maniac from cutting off your internet because he didn’t like a tweet you wrote. He’s done it before and he’ll do it again.

[–] JcbAzPx@lemmy.world 3 points 16 hours ago

There are still parts of the world where even that beats out all the alternatives. They just aren't terribly lucrative parts; thus the no good alternatives.

[–] hayvan@piefed.world 73 points 1 day ago* (last edited 1 day ago) (1 children)

They were never worth that much. But scams are profitable if you can enter early and find a bigger sucker to pass the hot potato. Which helps the hype.

I wish all Elon companies a swift crash and burn.

[–] reka@lemmy.world 22 points 1 day ago (1 children)

spacex is doge coin but even less stable

[–] AllNewTypeFace@leminal.space 15 points 18 hours ago

That’s not entirely fair. DogeCoin was, by all accounts, created by fairly decent people as a low-stakes joke, before Space Trump settled on it as his ticket to being popular and liked and, after spending some pocket change on a Shiba Inu for display, barged in and skunked it with his musk.

[–] samus12345@sh.itjust.works 19 points 20 hours ago

[–] SaharaMaleikuhm@feddit.org 13 points 19 hours ago

Let's get it down to $0

[–] kurikai@lemmy.world 56 points 1 day ago

cool

[–] lIlIlIlIlIlIl@lemmy.world 16 points 21 hours ago

$13.50 feels inflated

[–] gravitas_deficiency@sh.itjust.works 24 points 23 hours ago

[–] rslogix89@lemmy.world 29 points 1 day ago

[–] ooterness@lemmy.world 9 points 20 hours ago

Womp womp.

[–] SaveTheTuaHawk@lemmy.ca 9 points 21 hours ago

Being an Elon Stan has never been more expensive.

[–] AllNewTypeFace@leminal.space 9 points 22 hours ago

lol

[–] deliciEsteva@piefed.world 4 points 19 hours ago

who ever could've thought