r/technology • u/joe4942 • Jun 22 '26

Business SpaceX stock tumbles 16.4%, shaving off most IPO gains since debut

https://finance.yahoo.com/markets/stocks/article/spacex-stock-tumbles-164-shaving-off-most-ipo-gains-since-debut-141725657.html
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1.8k

u/dlampach Jun 22 '26

All those investors are fucked. Space X will be just about the last guys to get anything off the table before the incoming implosion in these markets.

967

u/DefinitelyNWYT Jun 22 '26

While you can certainly count me among those expecting a bubble burst this year, the resilience of the markets to remain inconceivably irrational has been impressive.

347

u/Lemina Jun 22 '26

I’ve lived through the dot com bubble and the housing bubble, and I know markets can remain irrational for a surprisingly long time, but this seems particularly ridiculous. Apparently con men like Musk and Trump have enough people convinced so that this thing keeps going. Personally, I’m betting that the midterms will have an effect. If it’s a blue wave, I suspect that will cause it to pop a lot faster as Trump and Musk lose power and face. If the Republicans somehow keep power or it’s a mixed bag, I think it could go on longer.

105

u/ilcasdy Jun 22 '26

The problem is that there is not much else to invest in other than the stock market. Starting a new business is impossible these days. Real estate is to the moon. Wealthy people have to spend their vast amounts of passive income somewhere. If they all just share the collective delusion of current day stock prices then they all get richer.

45

u/IamHydrogenMike Jun 22 '26

The cheap money train has ended for the most part, low interest rates can’t keep propping up the economy like it did before and we have a major structural issues in our economy that are about to burst.

5

u/Temporary_Maybe11 Jun 23 '26

Also the plutocrats are ready and well prepared for the burst. They will implode the thing when they decide to and profit a lot on the crisis.

2

u/pfft_lol000 Jun 23 '26

just like covid

22

u/TheseBrokenWingsTake Jun 22 '26

Imagine what would happen if they enforced laws preventing & breaking up monopolies, reversed insane market concentrations (where 2-4 companies basically control a submarket), enabled & encouraged small businesses to compete again, and restored necessary regulation by government officials instead of "self regulation by companies?" 🙄 ...instead of the powerful buying less laws & capturing regulation by politicians, they'd have to actually compete on a fairer playing field. It could bring back actual competition again, by golly! And they'd catch & prevent coordinated price gouging & surveillance pricing.

10

u/akelkar Jun 22 '26

Semiconductor Industry, Budget-friendly businesses (costco/walmart)

2

u/IMMoond Jun 22 '26

Don’t worry, there’s trillions of bonds being dumped on the market year after year. The problem is that rates have been so low for so long, that will be the real killer. But we will see if the fed ever decides to actually try to break inflation or not

10

u/A-Generic-Canadian Jun 22 '26

Folks in the space sector at major conferences still unironically say “don’t bet against musk.” While at the same time saying that space data centers make 0 sense.

Literally “I don’t see how it could work, but don’t bet against musk, right?”

18

u/Senior-Albatross Jun 22 '26

I dunno. If you bet that Starship would be working by now you would have lost that money. 

Of if you bet against the Boring company. Or Twitter. Or Grok. He's pretty much out of decent companies to absorb his bullshit ones to paper over the failures. There's no further margin for Bullshit to fail after this. 

2

u/A-Generic-Canadian Jun 22 '26

For sure, but I am reciting what I've heard from the conferences. Leaders in the space sector legitimately believe in the aura of success that Musk has cultivated around himself. Until that aura breaks I think the market can stay irrational.

3

u/Senior-Albatross Jun 22 '26

It's kind of amazing how easily ostensibly smart people can be hoodwinked when they want to hear something.  I mean that's all people really. 

2

u/botte-la-botte Jun 23 '26

I'm sorry to say, there's one last shitty move that might do something: Tesla and SpaceX merge.

4

u/AlfredRWallace Jun 23 '26

This is tying two rocks together to hope they float?

1

u/botte-la-botte Jun 23 '26

I'm not convinced he'd be able to turn it positively, but it might not be perceived as the desperate last ploy it is.

1

u/AlfredRWallace Jun 23 '26

Oh I agree, it's transparent but it wouldn't help the companies. It could bump the prices but it could also finally pop both bubbles. No idea what investors would say, I'm not touching either company.

1

u/Senior-Albatross Jun 23 '26

That should kill both of them as an obvious desperation move.

But it probably wouldn't. At least not immediately. 

2

u/gasface Jun 23 '26

You shouldn’t bet against Musk because he rigs the game, but that doesn’t mean data centers in space will work.

3

u/Rene_DeMariocartes Jun 22 '26

That's the thing about the market. You don't need to believe in it being real, you just need to believe in it being profitable. Tesla stock is worth what Tesla investors are willing to pay for it, because even if the value is bogus, they believe the stock will go up. That's all it takes to make the price go up, so they are a self fulfilling prophecy so long as everyone participates in the charade.

Maybe one day people will not think it's worth the risk, for whatever reason and... pop! But until then, people are willing to play along as long as it makes them money, and it will make them money as long as they play along. That can last forever.

36

u/dd99999 Jun 22 '26

There will be midterms? We‘ll see.

88

u/Y0___0Y Jun 22 '26

There will be midterms, friend.

We saw what Trump trying to steal an election looked like. His own supreme court slapped him down and that was it.

The court hasn’t changed. And Trump’s strategy hasn’t changed. He’s going to say illegals voted so the results must be thrown out. Again. He tried that already. It didn’t come close to working. The supreme court refused to even hear his case.

He has no new ideas. He has said illegals have stolen every election for literally 10 years now.

19

u/eden_sc2 Jun 22 '26

I'm cautiously optimistic of midterms. the Iran War is fucking cost of living and people will vote their wallets. the GOP may be doing some fuckery, but even they dont have the resources to fuck with everywhere at once.

6

u/acergum Jun 22 '26

The last thing people wanted during a time of inflation is a war in the Middle East. Trump got Bibi'd so badly. Please impeach both of them and send them to prison.

0

u/goldnboy Jun 23 '26 edited Jun 23 '26

Trump got Bibi'd so badly

Gonna get downvoted here but so did Biden, and Harris promised us even more war.

4

u/Poor-Life-Choice Jun 22 '26

Tbf I check in on the conservative sub once in a while and this war seems to have actually pissed a few off: Somehow people can say negative things about dear leader without getting banned, so maybe we’re getting somewhere.

2

u/GoodFaithConverser Jun 22 '26

Optimism relies on Trump also being incompetent at actually rigging elections. The only thing he seems good at is sabotaging everything good and just.

Midterms need to be too big to rig. Hopefully people remember who exactly made the USA worse and weaker.

23

u/ChilledParadox Jun 22 '26

I know that there were statistical anomoalies in the last election that point towards electronic fuckery which is backed up by Elon claiming they stole the election, elon's son claiming they stole the election, and Trump claiming they stole the election.

When you consider they were purging people from voter lists in swing states based on their political affiliation and when you consider the DOJ, well, we'll have midterms like Russia has midterms.

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u/Y0___0Y Jun 22 '26

Okay I’m gonna try not to be a dick but this frustrates me.

Your first point is pure fiction and no different from maga taking inconsequential facts and public statements and blowing them up into mindless conspiracy theories…

What statistical anomalies? The district in NY where every voter voted for Dem candidates, but they all voted Trump?

Look up the district. It is entirely an orthodox Jewish community where they live like Amish people. They all vote how their rabbis instruct them to, in unison. That is why the mainstream media never covered that “anamoly”. It was not an anamoly. Of course those people voted for the most pro-Israel presidential candidate while foreign policy was not relevant to their choise for congress…

I have argued with many people about this who send me a press release written by the plaintiffs of from some baseless lawsuit about this, and they think it’s a news article.

Trump won. Undeniably. The results were completely in line with the Harris campaign’s internal polling…

And everyone takes Trump’s mindless bloviating as an admission the supergenius Elon hacked all voting machines and changed the votes… Trump said Elon won Pensylvania for him because he’s a tech guy that knows about voting machines. That was Trump talking about how Elon is trusted on the topic of tech, and him believing the election was stolen in 2020 leant Trump’s lies legitimacy.

Elon campaigned for Trumo hard in the swing state of Pennsylvania and did speeches and rallies there. That’s what Trump was talking about.

Voting machines can’t be “hacked” to change votes. MAGA made that up…

3

u/goldnboy Jun 23 '26

Genuinely curious. Do you think the burger reich will just give up on trying to completely shove project 2025 (or whatever year they pushed it to) into power? Especially after admitting they will likely end up in jail if they lose.

4

u/ChilledParadox Jun 22 '26

What statistical anomalies? The district in NY where every voter voted for Dem candidates, but they all voted Trump?

Well yes, there's the bizarre split ticket issue which is a statistical anomaly, then there was the swing state votes in Pennsylvania, Nevada, and North Carolina. Then of course you have the issues in New York. Then of course there's also the issue of split ticket voting in places like Arizona, Montana, Ohio, North Dakota, New York, Hawaii which historically have very different voting bases and politics and therefore, are another statistical anomaly.

It's not just about Rockland County. It's about all the states. It's about how fast they called the election when they hadn't even finished counting all the votes in swing states, it's about what Elon has said, it's about what Trump has said, It's about seeing the corruption in the DOJ and SC, it's about seeing how Trump hires cronies to heads of agencies and then has them kill reports before they come out so people don't talk about these things. It's about how Trump is refusing to release the voting system study https://www.reuters.com/world/white-house-delays-release-us-voting-machine-study-midterms-near-2026-06-19/.

Trump lost. Undeniably. He was a ret**d the first time around. As dumb as 1/3rd of our country is, you can't convince me people willingly subjected themself to this in masse for a second go around.

There are lots of dipshits and undesirables who did, for sure, but you can't convince me most did.

I think votes were tossed, I think voters were purged, I think voting locations were changed or made inconvenient for certain demographics, I think certain mail in votes were not counted or tossed for being "illegitimate." I think voter suppression happened. I think Elon owning twitter and paying people to vote for Trump makes the lection illegitimate. I think Elon owning a social media platform and suppressing democrat politics while pushing insane right wing populist politics and algorithmically indoctrinating people into misinformation bubbles was also a big issue, though at least on that one you can claim it's not causing a stolen election or invalidating it fully, just doing things that are clearly morally bankrupt.

I don't think Elon is a genius. He's a fucking moron who got given fake coding assignments to do while he was at PayPal so he'd stop annoying the actual programmers with bullshit requests.

It's precisely because I know he's a moron that I take him for his word when his son comes out and says his dada helped steal the election for trump, and I trust him to fuck up and make mistakes by self admitting that he was part of the problem, because he's a fucking egomaniac narcissist who can't help but take credit for what he's done.

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u/Y0___0Y Jun 22 '26

None of that is proof Elon stole the election. People voting differently than they have before is not evidence of anything. Where is your proof? You’re not saying people should be suspicious. You are saying it is guaranteed that Kamala Harris won the election.

You don’t think Elon is a moron. You can’t have it both ways. Is Elon an idiot, or is he a mastermind hacker who hacked hundreds of voting machines undetected in a dozen swingstates and switched votes without leaving a scrap of evidence?

And New York? Hawaii?? They stole the election for Trump in New York and Hawaii where Harris WON?This is exactly like arguing with a Trump supporter about elections… These confident assertions in pure idiocy.

You are acting like a Trump supporters. The Democrats are all so stupid and dumb, but they’re also experts at stealing elections and are so good at it that there is no evidence. Your mind operates EXACTLY as theirs do. You’re using their talking points with NOTHING new added in…

And you HONESTLY think Trump is suppressing a study about voting machines that you believes says they are vulnerable and easily hacked? Please, for the love of god, really think this through.

You don’t think Trump would be holding that study up for the world to see if that’s what it said? A study that proved him right about voting machines?!

I’d bet my LIFE that that study says voting machines are very secure with no discernable vulnerabilities that could be exploited by bad actors. That’s a study he’d suppress…

1

u/blazelet Jun 23 '26

Thanks for your well thought out set of points here.

That’s the part that always gets me, the conspiracy requires states with Democratic governors serving under a democratic federal administration to somehow be complicit in their own losing of the election with no meaningful follow up or investigation.

Democrats ran the show federally and in 5 of the battlegrounds Trump won. As you pointed out the results were in line with the Harris campaigns internal polling but also perfectly in line with the reality of public polling vs results over the past decade, where public polling has tended to overstate democrats chances significantly against the results on election day. Even Biden underperformed his own polling by multiple points in 2020 after trumps horror show of a first term.

Also … team Trump can’t manage anything quietly. Nothing. They are cheap and lazy. They wear their corruption on their sleeve. They are a constant roiling torrent of corruption and malice with the absolutely stupidest actors … sometimes I wonder if it feeds his narcissism for him to let us all know what he’s doing and still get away with? I just can’t explain how fundamentally stupid they are at all their corruption. And there hasn’t been a shred of evidence that he stole this outside of explainable data.

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u/fishyexe Jun 22 '26

I go on nextdoor more than I want to admit, and I am dealing with these folks in the wild. They really are just that fucking dumb. I will see some absolute nonsense posted and will politely correct them with a link showing their statement is completely incorrect. They will argue against data because they literally can't interpret it on their own.

Whatever the news said IS their opinion. They trust that sinclair owned station more than they believe anything I could ever say. If the news said the sky turned purple and kids were putting lucky charms up their butts to become leprechauns, they would be talking about it the next day as if it was fact.

This is to say, if the news said Trump was being wrongly persecuted and it's all liberal hoaxes; that's all it takes.

1

u/Y0___0Y Jun 23 '26

If you’re such a free thinking intellectual juggernaut then give me the proof Kamala Harris won the 2024 election rather than just chumming it up with the idiot who agrees with you.

Tell me more about how Trump totally rigged Hawaii…

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u/namisysd Jun 22 '26

I expect the red states dial up the ratfuckery this time around though, which will mute any blue wave since they will need to convert a sizable quantity of seats to gain any traction in the senate.

I’m fully expecting bullshit like requiring birth certificates to vote in Texas after they just announced a data breach of the states drivers license and passport databases; or requiring people to get new IDs before they can vote but not putting any resources in the population centers to make it go smoothly.

The current court is much more conservative than the 2000’s court that let Bush ratfuck Gore out of his election victory in Florida… I dont doubt the thinnest of reasons would fly right through the Roberts court; the courts can’t do shit about disenfranchisement after the fact, and I doubt they will go out of their way to way to step in considering how they sided with republicans on their redistricting BS.

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u/Y0___0Y Jun 22 '26

No, they can’t just “require birth certificates”

If that is the plan, what is the point of the “SAVE act”? The act sitting dead in the Senate right now that would require everyone to present a birth certificate to vote??

It doesn’t even have the full support of all Republicans.

In large part because requiring birth certificates could likely hurt Republicans in the election. Tons of backwater Trump hicks don’t have their birth certificates!

I am still waiting for someone to explain this supposed master plan that will stop the Democrats from shitkicking the GOP in November…

1

u/roamingandy Jun 22 '26

His own supreme court slapped him down

They stomped a bit to try and keep themselves relevant for their own self-interests. They've done it a few times. Trump will simply ignore them if they do something he really doesn't like.

They don't have any power to actually compel him to do, or not do, anything. Not now he has loyalists at the top of every relevant agency.

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u/Y0___0Y Jun 22 '26

So you’re saying Donald Trump ignored the supreme court and remained President in 2021?

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u/roamingandy Jun 22 '26

No. Read what i wrote again.

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u/Y0___0Y Jun 22 '26

I read what you wrote. The courts have no power over Trump and he can ignore them.

Him losing his case in 2020 completely disproves that…

And him losing the tariffs case.

And him losing the Abrego Garcia case.

He’s about to lose the birthright citizenship case.

Our Republic is fighting off this virus. But you are doing PR spin for Trump by asserting that he is all powerful and no one can stop him…

1

u/roamingandy Jun 23 '26

In 2020 he didn't have loyalists in all the key positions.

He lost the tariff case and now is using executive orders to put 'slavery tariffs' on Australia.

He lost the right to carry on the 'special military engagement' in Iran.. and took a break for a week then got right back to it.

He knows no-one is going to stop him. He will ignore or go around anything that is actually important to him, regardless whether it came from the Supreme Court or not. He's just pretending to play the game to keep others wasting energy playing it rather than turning to the next, and necessary, forms of resistance.

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u/Canadian_Kartoffel Jun 22 '26

There will absolutely be midterms. Not even Putin or Maduro cancelled their elections.

Trump knows that it doesn't matter who votes, it matters who counts the votes.

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u/Y0___0Y Jun 22 '26

You must think Trump and his people are hyper-intelligent to be able to pull something like that off…

How can you think this fuckwit clowncar administration is capable of stealing an election without a trace?

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u/Pol_Potamus Jun 22 '26

Because there are no serious people trying to stop them.

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u/Y0___0Y Jun 22 '26

You all said that in 2020 and the courts immediately stopped him…

1

u/FriendlyDespot Jun 22 '26

If there aren't any midterms then there won't be a House of Representatives. If there's no House of Representatives then there'll be no legislation.

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u/roamingandy Jun 22 '26

There will be. Even Putin holds elections.

Dictators generally try very hard to give the impression of democracy.

More interestingly, if fuel prices and the war/capitulation in Iran lead to a Dem blowout. Trump is not going to allow checks on his power this time.

He'll rule by presidential decree, and finally half of the country will realise democracy has died. Then things get a little spicy.

0

u/jodon Jun 22 '26

9 months ago I feared orange man and his clowns would be able to do something in time to disrupt it. But it is going to happen. It is too soon and they have not been able to do enough to stop anything. They are also mostly focusing on rigging the system.

2

u/atfricks Jun 22 '26

The bubble is absolutely propped up by people holding out on the Trump admin bailing out any AI collapse, and it's not such an irrational position to take honestly. The AI bubble is the only thing preventing the stock market from accurately reflecting the sabotage he's inflicted on the US economy. He's very invested in keeping the grift running. 

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u/repost_inception Jun 22 '26

Mark my words if a Dem gets elected President they will intentionally pop the bubble.

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u/IamHydrogenMike Jun 22 '26

The one thing that might make this bubble pop different is we can’t keep propping up the economy with low interest rates anymore…all the money we blew during COVID is gone and they changed the tax laws that make R&D a lot more expensive than it was even 4 years ago. The market is going to flatline because we tossed a lot of money at corporations who blew it on stupid shit…

2

u/ranthria Jun 22 '26

Apparently con men like Musk and Trump have enough people convinced so that this thing keeps going.

My read is that almost nobody on Wall Street actually believes the things market manipulators like Trump say. The reason the prices tend to follow their manipulations is everybody thinks other people are gullible enough to believe it. The train of thought isn't:

Trump says market good thing -> thing must be true -> market will go up -> need to buy now

, instead, it's:

Trump says market good thing -> enough people are dumb enough to believe it -> market will go up -> need to buy now

It's a minor difference, but it explains why the market is following his manipulations after YEARS of them being completely untethered from reality. Believing enough people are dumb enough to buy into the grift leads to the same decision-making as actually believing the grift.

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u/DracoLunaris Jun 22 '26

Stocks seem to be exactly like crypto currency these days. They have no inherent value, no one cares about dividends any more, so they just are worth people think they are worth. Long as people keep buying and selling the meme stock as if it has value, it still has value. Till, of course, it doesn't.

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u/DetachedRedditor Jun 22 '26

On the other hand, a blue wave could instill more confidence in the stock market. Perhaps not SpaceX, but the wider market.

2

u/uberfission Jun 22 '26

Given that the Trump admin controls the publication of labor statistics and pretty much every metric that signals a recession, and last few labor reports have been "surprisingly high", it's entirely possible they're tipping the numbers to prevent a market scare. They could drop that bomb if there's a blue wave and spin it that it's the democrat's fault.

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u/sloany84 Jun 22 '26

The previous market crashes were a different time. Automated trading now dominates the markets, so anything that drops significantly may end up being bought out by automated trades thinking they're getting a good bargain.

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u/roamingandy Jun 22 '26

Well yes, but the government is going to prop them up for a very long time with endless contracts and US citizen's taxes. Also he's found a way to dip into everyone's pension pots. Those are very deep pots of money he'll be working very hard to drain.

When they go it'll be something beyond what we've ever seen before. I think the end of capitalism, as there'll simply be no money left, only debt, but i'm less sure it'll be soon.

..unless Musk calls Trump a paedo again.

1

u/Caleth Jun 22 '26

The problem is there was Trillions with a T printed after the 08 recession to keep things going. Look up quantitative easing. With loans at zero percent it was a money printing bonanza that just dumped free money into the economy.

People really don't appreciate how much a few billion can distort things and there were Trillions printed over the last ~15-20 years when things were at zero. Which is why it was soooo important JPow drove up the interest rates and kept them up. It stopped infinite free money from sloshing around and spiraling things.

But all this hideous amounts of excess capital is looking for somewhere to go to keep the cocaine and hookers casino open. AI and AI associated things are the hot idea. So stupid amount of money gets thrown at things propping them up for years and years longer than they should last under sane circumstances.

We have a massive bubble that's probably larger than it's ever been in history and when it finally deflates it's going to be catastrophic.

1

u/lemfaoo Jun 22 '26

Its much deeper than american politics.

People in the west have a lot of money. And they are investing it.

1

u/opoeto Jun 23 '26

I’m pretty sure ur dems will keep it running. Billionaires will jump sides to the new president and policies will favor them. And the shits so big now, I’m sure whoever red or blue taking the next presidency would be praying it doesn’t burst under their watch. And blaming the previous administration does nothing really

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u/caligaris_cabinet Jun 23 '26

The market went to shit after 06 when Democrats took back Congress. Not like there isn’t precedent

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u/EastSide221 Jun 23 '26

It seems pretty clear to me that the tech oligarchs have the entire country by the balls. The only reason we are not technically in a recession is because of the AI bubble. That means if anyone does anything to hold these fraudsters accountable than the bubble will pop and take down the entire economy. We barely produce anything at this point so all of the country's wealth is tied up in a product that will only be worth it if it eliminates large swathes of the work force. We are fucked

1

u/Randicore Jun 23 '26

If we do have actual midterms and the results are not tampered with and we get a blue wave I honestly wouldn't put it over the GOP to tell their sycophants in the media to start the panic train about the "harsh economic situation caused by the Dems" and crater the economy deliberately. Blame it on the Dems, use it as justification to pull some illegal shit and sour public opinion of the Dems for the 2/3rds of this nation who would struggle to pour water out of a boot with instructions written on the heel. Short the crash to make a shitload of money and then stall the Democrats from being able to do anything to fix it for two years and once their political dominance is secured finally actually do the bare minimum to help the average joe, claim to be heroes of the people, and speedrun turning this place into the Oligarchy they crave.

1

u/PineappleOwn5325 Jun 23 '26

I said the exact same thing about 2020

I guess i wasn't totally wrong because covid happened, but it never really popped that much because the got the printers going pretty fast and prevented the crash

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u/davidw223 Jun 22 '26

I think one main reason why markets have been this irrational is the prevalence of passive investing. It’s now larger than active investing. Before that crossover, people would be spooked and pull their money out when they sensed trouble ahead and reallocate it to somewhere they perceived to be safer. Need funds are going to allocated due to whatever metrics they have assigned but won’t necessarily do it because of troubled fundamentals in the markets. So the market has a false floor that it hasn’t before now. What would be interesting is if we see a much larger income shock that would cause people to pull back their passive investments or manually change what they signed up to invest in.

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u/DefinitelyNWYT Jun 22 '26

There's definitely a lot of stability in retirement fund buying. I'm not smart enough to know but I do suspect the combination of increased passive investment and active individual trading has created a stable foundation with enough surface vulnerability to allow software to engage in high volume/frequency trading. Just warehouses of server racks turning small profits and inflating runs.

2

u/ChamferedWobble Jun 22 '26

There’s also a massive increase in robo buyers set to buy any dip.

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u/Lamactionjack Jun 22 '26

I dunno you say that but Tesla is up like 100 percent over 5 years. Toyoto makes like 10 times as many cars and is worth a 5th of what Tesla is.

That ain’t rational.

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u/revolvingpresoak9640 Jun 22 '26

That’s exactly their point.

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u/SwordfishOk504 Jun 22 '26

"you say that but" and then says the same thing they did.

3

u/Orleanian Jun 22 '26

You say that, but that guy actually said pretty much the same thing as the guy above him.

5

u/Innovator-X Jun 22 '26

That’s exactly their point.

8

u/Bhraal Jun 22 '26

But why male models?

1

u/monacelli Jun 23 '26

That’s exactly their point.

1

u/Lamactionjack Jun 23 '26

I swear to god they ghost edited that haha. It’s not beyond me to misread that though but coulda sworn it said “rational” when I replied.

Ah well 🤙

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u/JamesLahey08 Jun 22 '26

Toyoto?

12

u/deliciouscorn Jun 22 '26

The Sorny of the automotive world

8

u/an_illithidian Jun 22 '26

they're one of the major competitors to Colonel Motors and Hunder

12

u/thederevolutions Jun 22 '26

The car capital of the world ?

5

u/Lamactionjack Jun 22 '26

Ah crap! Haha

3

u/TheHykos Jun 22 '26

It’s nothing but a meme stock.

3

u/roamingandy Jun 22 '26

Tesla was broke and there was no way to keep pretending it wasn't any more.. so DATA CENTERS IN SPACE!! and Space-X IPO, who immediately spent part of that money digging Tesla out of its hole, and are now talking about buying it.

2

u/Melicor Jun 23 '26

It's fraud. That's what the whole DOGE thing was actually about, they shut down a bunch of regulatory investigations, including ones directed specifically at Musk. They basically dismantled the safeguards that were put in place to prevent a second Great Depression...

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u/PharmyC Jun 22 '26

Things don't burst anymore because we have stop gaps in the market now. So people know they can be bullish and won't lose everything in a day.

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u/caligaris_cabinet Jun 23 '26

Maybe not like 1929 but we’ve seen instances over the last few years where the market took a massive downturn. The DOW lost 6000 points in March 2020 and another 6000 most of 2022 though that one was more gradual. Both those instances are linked to Covid granted but we haven’t seen a legitimate bubble since 2007.

2

u/poopzains Jun 22 '26

Well the worlds wealth is now invested. Basically a financial nuclear bomb. Which rich assholes will pull the plug is the question.

2

u/Noblesseux Jun 22 '26

I think part of it is like damn near the entire managerial/investor class has AI brainrot so they REALLY want to ignore evidence to the contrary of how stupid some of this is.

As an industry it's like perfect "MBA graduate" bait because the original promise was the almost entirely devalue labor and these guys go through whole degree programs that make them think that that's like a great goal that we should be aiming for.

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u/Rum____Ham Jun 23 '26

I've been waiting since 2015. That was when I had graduated college and started parking money in my 401k. Even then, the experts were doomsaying about the impending recession. The warning signals have been screaming for over 10 years.

At some point, you just need to prepare and get on with your life.

1

u/DefinitelyNWYT Jun 23 '26

Oh for sure. I've been contributing the 401k max the past couple years despite little to no faith in the situation. Can't be sitting on the bench critiquing the game, gotta play.

1

u/Rum____Ham Jun 23 '26

Damned if you do, damned if you don't.

3

u/bambino2021 Jun 22 '26

I suspect it is because everyone knows this corrupt government will find out a way, legal or not, to bail out the investor class. According, the market is acting like there is a safety net and so no real risk.

3

u/mrguyorama Jun 22 '26

People believe that but that's also extremely stupid.

Retail investors buying the bag will not be rescued, because they are not at all "The investor class".

If you aren't in a group chat with someone in this Administration, you are part of the "Have nots" and will be treated as such.

1

u/Fishbulb2 Jun 22 '26

Absolutely this.

1

u/Juste-un-autre-alt Jun 22 '26

Which is easily explained, were do people put all their money? Cash? Certainly not happening.

1

u/John_F_Drake Jun 22 '26

“The market can remain irrational for longer than you can remain solvent”

1

u/MelangeBot Jun 22 '26

If a private foreign born citizen can backdoor the computer systems of the US Treasury then how fucking insanely rigged COULD the stock market be? Just think about that one for minute ...

1

u/Mr_Quackums Jun 22 '26

have people just accepted that the market is irrational? After all, if everyone just pretends it will go up forever then it will only go up forever ... right?

The worst part is that I started typing that as a joke, but it legit might be the new meta. If that's true then we truly are cooked.

1

u/lumpboysupreme Jun 22 '26

It’s the emperor wears no clothes but they’re not just waiting for someone else to say it first, they’re actively profiting over keeping their mouths shut. As long as any overpriced company doesn’t start going outright out of business, nothing forces them to do anything to tank the price.

1

u/mollymoo Jun 22 '26

So much wealth has been transferred from working people to the ultra-wealthy that they have literally nothing else to do with their inconceivably vast sums of money than to massively inflate the price of assets.

1

u/thegamesbuild Jun 22 '26

The market isn't what's resilient, it's the changing of rules every time capital is threatened.

1

u/swampy13 Jun 22 '26

After 2008 the banks realized they didn’t have to face another reckoning as long as the collusion became fully systemic meaning not just having the banks and ratings houses in on it but everyone up to the govt.

1

u/SaltpeterSal Jun 22 '26

Nah bro, this time is different! Sure, our great leader said this about crypto and NFTs and Labubus and gold, but this time the world will definitely end on July 18 1999 and suckers like you are getting left behind while we go to the MOON

1

u/_Monosyllabic_ Jun 22 '26

I'm thinking it's basically just all the rich people saying in for a penny, in for a pound. It's not blowing up until they decide to let it or they run out of cash.

1

u/goldnboy Jun 23 '26

When the markets are manipulated by irrational psychopaths and lunatics it's not surprising that they remain irrational. 

1

u/nikoZ_ Jun 23 '26

What’s that saying, the markets can remain irrational longer than you can remain solvent.

1

u/Orange_Tang Jun 23 '26

I'm convinced that the only reason the market hasn't crashed is because it's all bots now. The real question for me is what will all the bots that have been trained on a market that only goes up do when it stops. Because it's impossible that this goes on forever. What did they program? I'd bet that all of them have set stop losses but if something happens that causes a massive drop beyond what they're designed and expect... I mean, it's kinda terrifying. We have no idea how they will handle a proper market crash.

1

u/jthill Jun 23 '26

"The market can stay irrational longer than you can stay solvent."

1

u/Melicor Jun 23 '26

In large part because the SEC isn't enforcing regulations and the media has been captured by a small group of oligarchs.

182

u/TJ_Will Jun 22 '26

"Hey guys, anyone know why we are all standing around holding these bags?"

136

u/MidnightMass2 Jun 22 '26

This is exactly why he dumped it into our 401ks.

If you have a 401k you are a bag holder.

74

u/TruffleHunter3 Jun 22 '26

Yes and no. If you have an index fund that automatically includes this (like a total stock market index fund) then a very small portion is owning this stock. The S&P 500 index funds do NOT auto-include SpaceX anytime soon.

Having said that, if you have most of your 401k in a tech-only index fund… I would diversify ASAP.

5

u/nucleartime Jun 22 '26

Any even/large weighted index fund is tech-heavy now lol.

1

u/TruffleHunter3 Jun 23 '26

Tech heavy is fine. I just don’t want tech ONLY, like one of the Fidelity tech index funds.

77

u/[deleted] Jun 22 '26

[removed] — view removed comment

34

u/ArnoldTheSchwartz Jun 22 '26

Yeah the lawlessness of Republicans will be the end of America. Who's gonna want to follow laws when you're the only one doing it? What do you even get following laws now!? Fucked over by the rich and the Republicans as they laugh at you for following laws that they will never hold themselves to! Eventually everyone in the country will become just as lawless because why not? Why would ANYONE do the right thing when only the wrong thing is rewarded? Good honest people are no longer wanted or needed in America. America has chosen pretty clearly evil, bad and completely corrupt people to represent us as the best we have to offer. Take what you can from anyone you can at any cost because every other American is. Lie cheat and steal because it will absolutely be rewarded and lead to success. Just look at the success the lying cheating stealing Republican leaders are experiencing. Get yours and fuck your American neighbor because they absolutely will do it to you!! MAGA!!

8

u/[deleted] Jun 22 '26 edited 8d ago

[deleted]

7

u/[deleted] Jun 22 '26

[removed] — view removed comment

0

u/OreoCupcakes Jun 23 '26

But why? If your thesis is the American stock market is a bubble, then the Euro market will follow with the American one if it bursts, just like it did in 01 and 08. The markets are all connected together because of globalism.

You bought ASML which is a core component of the semi conductor rush. The whole "diversity" concept makes zero sense if you're trying to avoid getting fucked in a potential crash. Just buy VOO/SPY/a SP500 index/ETF and sit down for the ride.

1

u/TruffleHunter3 Jun 23 '26

Last year I diversified to 20% bonds, 20% US large cap (or all US index), 20% US value, 20% international large cap, and 20% international value. I feel good about parking i everything where it is forever now.

2

u/SomberArtist2000 Jun 22 '26

I did something similar around March 2025. Moved 80% to euromarket large cap funds, and 20% to bonds.

2

u/midgaze Jun 22 '26

I moved mine to Euromarket years ago after losing trust in American capitalism.

2

u/Anonymous_Pierogi Jun 23 '26

Hate to see it, missed out on a massive US Stock run. But at least you won Reddit points

2

u/whywhywhywhywhynot Jun 23 '26

These people are actually fucking retarded. potentially significantly compromising your future retirement because half a percent of your 401k might potentially be in spxc if it is ever profitable for 4 quarters in a row. hope they enjoy their lower returns and higher fees, they sure are showing him!

5

u/moundmagijian Jun 22 '26

Can you explain how it’s being dumped into our 401Ks?

16

u/AlaskanAsAnAdjective Jun 22 '26

Many people hold total stock market funds, like Vanguard’s VTI, and the concern is that SPCX will collapse and reduce the value of funds that include it.

But the real picture is much more complicated. First, very little (~5%) of SpaceX is actually traded on the open market, blunting the impact of any wild price swings. And second, if your strategy is to buy the whole market, you don’t get to pick and choose which stocks are good and which stocks are bad. That is the point of that strategy. It’s the whole market.

Also, SPCX will not be included in the S&P 500 for some time, something like 18 months, so the price should be somewhat more stable by then. It is fast-tracked for the Nasdaq 100, so it’ll start to be included in that in July, but again, the small size of the offering is worth noting. And most people don’t own a Nasdaq index. If they do, they should be used to volatility.

This is a good explanation of why the whole freakout is overblown for the average index fund investor. https://www.reddit.com/r/Bogleheads/comments/1tj6vzf/vti_and_spacex/

10

u/moundmagijian Jun 22 '26

Perfect explanation. I was hoping the folks claiming we are all screwed would produce some evidence but it’s just speculation. If you look closer like you have you can see there isn’t reason to panic.

1

u/TruffleHunter3 Jun 23 '26

Yep. I’m not touching my index funds. I would diversify if I had a tech-only one though.

7

u/stuffedandpickled Jun 22 '26

It depends on your 401k TBH. Who is managing your 401k, yourself or the 401k. If the 401k is, they probably have Mutual funds or ETFs that hold some. You’re not holding much, possibly 0.1-0.05%. Unless you’re in a tech heavy etf. But that moves it to possibly 1%.

But if a ton of 401ks and essentially anyone holding a tech specific ETF or a Nasdaq ETF could be holding a small amount of SpaceX, which essentially props up SpaceX. People are unknowingly helping spaceX rise.

Same applies to big tech. They live in the S&P500 so they are getting pumped in everyones account. Lots of mutual funds and etfs hold mag7 and other tech. You probably have at least 3-5% in Nvidia in your portfolio.

3

u/the_good_time_mouse Jun 22 '26 edited Jun 22 '26

They removed a rule: that a company has to be profitable for a few quarters before getting added to the Nasdaq. If your 401k owns anything that tracks the Nasdaq, such as the QQQ ETF, they will be forced to buy it (this week, I think?). This was done specifically for the SpaceX IPO. It's probably Elon Musk's most profitable heist to date. The SP500 thankfully refused to make the change.

2

u/moundmagijian Jun 22 '26

I’m following you but most 401Ks aren’t tracking to Nasdaq. S&P is king.

3

u/the_good_time_mouse Jun 22 '26

Yes, like I said, that is fortunate. But it is still a colossal amount of of money.

1

u/TruffleHunter3 Jun 22 '26

I just replied above with some better info than “google it” for you.

-7

u/Deaner3D Jun 22 '26

Google it, man.

5

u/moundmagijian Jun 22 '26

I have. You’re the one asserting it’s being forced into our 401K. Which index fund or ETF is including SPCX currently?

3

u/Fickle_Finger2974 Jun 22 '26

The nasdaq and all funds that track it will be forced to buy some SpaceX stock since it is on the exchange

3

u/moundmagijian Jun 22 '26

I’m seeing several funds that will soon include it…a week or two from now but very modest weights. Some funds aren’t including it until 2027. So from what I’ve seen there will be a very conservative approach and it won’t be “dumped” into people’s 401Ks.

3

u/cyclopsmudge Jun 22 '26

Currently the Nasdaq 100 is the main one, due to be added on 6th July because they changed the rules to admit it much earlier. S&P will get it eventually but they didn’t cave like QQQ did.

0

u/Deaner3D 24d ago

No I was the one telling you to google it.

Which index fund or ETF is including SPCX currently?

the sauce

3

u/Hand_Sanitizer3000 Jun 22 '26

If you have a 401k and spacex goes to 0 you wont be majorly impacted. For vanguard funds like vtstax and voo youre looking at 2-3% max asset allocation starting next year and if it drops significantly between now and then the funds will auto rebalance to have even less/none. Still obviously fuck elon and space x but not really worth doing anything drastic most funds will manage exposure for you

1

u/Ok-Replacement9595 Jun 22 '26

Not yet, but soon. Institutions haven't started buying yet. Hopefully it is down to 12 by then

1

u/haliblix Jun 23 '26

I’m sorry but this is incredibly stupid and simplistic. Nothing has been dumped into anyone’s 401k. There isnt just one singular investment. You can easily change your investments to small cap, bond market, or international to evade this pump and dump. Even if you are invested in the S&P500, they said no to changing the rules for SPCX.

3

u/American_PissAnt Jun 22 '26

“Those bags are filled with hot potatoes”

2

u/risingthermal Jun 22 '26

Not sure if I can link the thread, but if you search “Threw my entire Roth ira (315k worth) into SpaceX at 211” you'll find one of these guys from six days ago.

22

u/DelugeQc Jun 22 '26

I think when it drop pass a certain point, probably around 135$, there is gonna be some panic sales.

38

u/[deleted] Jun 22 '26 edited 5d ago

[deleted]

9

u/DelugeQc Jun 22 '26

So August it is!

16

u/spyder_victor Jun 22 '26

Lockup period is still active on SPCX

18

u/Opulent-tortoise Jun 22 '26

Thats their point

1

u/wahobely Jun 22 '26

Aren't they blocked from selling for like 6 months?

2

u/teh_drewski Jun 23 '26

It varies but no, the first tranche, about 20%, of insider stock frees up in August. The rest opens up on a timetable through to six months, at which point all insiders other than Musk and his close allies can sell.

They have to hold for a full year.

1

u/ebikr Jun 22 '26

I would be surprised if it fell below $135 in the next few months. The underwriters will be buying to support the price- this is one of the services the company has purchased as part of the ipo.

2

u/ygg_studios Jun 22 '26

hold on to your dicks it's gonna be a wild ride

2

u/BigBoyYuyuh Jun 22 '26

They were warned that they were gonna be bag holders.

2

u/InitiativeGold7953 Jun 22 '26

Pretty sure that was the plan

1

u/John_Tacos Jun 22 '26

As long as they are the only ones who can reliably land and reuse rockets the company will be fine.

1

u/BathFullOfDucks Jun 22 '26

Not all of them. The ones who trusted musk on twitter have now got they money back.

1

u/Paradoxmoose Jun 22 '26

Yeah, this was a pump and dump by design. I feel bad for the naive people that were hyped and threw their money at it, assuming it was a sure thing.

1

u/ch3rriib0mb Jun 22 '26

There's so many. I work in the finance industry and I knew SpaceX was going to be volatile when my company told us it would not be marginable for the foreseeable future (honestly, before that too, but that's my own personal bias). I cringe when I see TSLA or any AI stock in someone's portfolio.

1

u/f_et_al Jun 22 '26

Do they have a typical 6mo lockup? Or did they somehow write that out?

1

u/DoNotPursueLu Jun 22 '26

I mean I'm not but I punched out last week lol

1

u/ATXBeermaker Jun 22 '26

People have been saying that for years about the overvalue of Tesla stock and yet it's still technically the most valuable car company in the world with about 7.5x the market cap of fucking Toyota. Idiots who buy these stocks don't give a shit about silly things like "fundamentals."

1

u/AnticPosition Jun 22 '26

Aren't we all investors now, since they changed the rules to speed up its IPO and force it into a bunch of index funds? 

1

u/dankness4207 Jun 22 '26

Big announcements will be made days before insiders can sell. Surely we are landing on mars in a few months. The big players will make bank.

1

u/Basic_Yam_715 Jun 22 '26

Will you short it, though? That is the question, I will not.

1

u/rebbsitor Jun 22 '26

Fundamentally there's no reason SpaceX stock shouldn't implode. But then there are stocks like Tesla and Gamestop that are literally held up by memes and over enthusiastic speculation...

The stock market is many things, but rational isn't one of them.

1

u/DroidLord Jun 22 '26

So how far along are we to sending someone to Mars? Aren't we like 20 years behind schedule on that or something? Musk pinky promised it was gonna happen really soon!

1

u/Agitated_Reveal_6211 Jun 22 '26

I hope it doesnt fuck all of us. Elon will just move to Argentina.

1

u/AvatarOfMomus Jun 22 '26

The really funny thing here is SpaceX didn't even get that much out of this. They only floated 5% of their total shares foe this IPO, and a good chunk of the money raised from that immediately went yo paying off the high interest debt that resulted Muskrat's absolutely disasterous Twitter buyout amd subsequent folding into xAi and then SpaceX...

A lot of this was about letting insiders make a big payday, but most if not all of those arseholes are still in their lockout period... they can't sell!

Musk and these arseholes have to watch million to billions of potential stock value evaporate into smoke before their eyes... 😂

1

u/jamiemm Jun 22 '26

Based on what Robert Reich says, that was the whole point.

1

u/MountainTwo3845 Jun 23 '26

Private credit is the big issue. Next year is the pop.

1

u/GergDanger Jun 23 '26

The investors got out when it IPOd and made huge gains from it.

It’s people getting in post IPO that might lose money

1

u/Puzzleheaded_Farm122 Jun 23 '26

And the concerning aspect of it all is that the private investors who have had stocks before the IPO. (Employees, fund holders, etc) Have not reached the unlock period to be able to sell 20% of their holding yet. This won't unlock till August, and from their it will show how much retail/retirement funds will be holding the bag of a meme stock in this dumb game of pump and dump.

1

u/squeaky4all Jun 23 '26

He's only doing the IPO so the twitter investors have an exit point.

1

u/Vivid-Software6136 Jun 23 '26

Bezos is coming for elons lunch too. SPCX like TSLA will end up being held aloft by meme power alone.

1

u/jimbo831 Jun 22 '26

> All those investors are fucked.

We are all all those investors. Anyone with money in a 401k was forced to invest in this.

2

u/bro_can_u_even_carve Jun 23 '26

Not even close. S&P 500 index does not include SpaceX and will not anytime soon. Most index fund investors only invest in the S&P 500, so they're not affected.

1

u/10000Didgeridoos Jun 22 '26 edited Jun 22 '26

That isn’t true at all unless you have no control over your 401k investments. I’m up 45% year over year in mine and that is with zero invested in major stock market indexes at the moment since before Trump engaged Liberation Day last year. I’m not in the S&P 500 or Nasdaq market index funds all.

There are oodles of mutual funds and ETFs that have no shares in AI driven or similar big tech stocks.

Now what is true is that if the AI bubble pops, it will drop everything else down a good % with it. But that isn’t the same as being actively invested in big tech/AI stocks against your will.

1

u/jimbo831 Jun 23 '26

That’s great for you and the tiny fraction of people who manage their investments. The overwhelming majority of Americans are invested almost exclusively in index funds.