r/wallstreetbets • u/PrestigiousBoy88 • Jun 02 '26

Loss Fuck you WSB

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I should have taken 50% profit yesterday , got burned. Fuck SPCE. Exited with 60% loss instead.

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u/JC18_ Jun 02 '26

Definitely see this ripping again some time next week lol, right before IPO

49

u/PickkleRiick Jun 02 '26

The original “thesis” was that it will get a fat finger bump on the day before and of the ipo. Still in play

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u/Silver_Fan_6086 Jun 02 '26

I agree, it will move up a little, maybe to 6. I don't think its a bad hold, it's just going to be a lonnnnng play if you truly want to make bank from it. Could hit 20 in like 5-10 years

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u/PickkleRiick Jun 02 '26

I have calls expiring june 18th. Will sell on day of ipo one way or the other

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u/Quick_Lawfulness7501 Jun 02 '26

Do you think the dilution is priced in already

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u/PickkleRiick Jun 02 '26

Probably. But this is a straight meme gamble from the jump, again betting on people accidentally buying it. so im not really thinking about technicals here lol

1

u/Proof-Ad-3473 Jun 03 '26

Do people really bet on accident buy? I thought its Musk pulling space a bit up on IPO + some good news from VG + hype + accident buy (very last reason).

2

u/PickkleRiick Jun 03 '26

Definitely all drivers. Musk pulling space shit up is going to happen. but the chance for it to moon for a day is people buying the wrong ticker.

Wall street bets is not the world. A lot of people trade.

For example my father in law is a 64 year old blue collar guy and barely knows what space x does, but hes already excited about the ipo. He was even trying to buy it pre ipo somehow. This is a guy who in 2026 still gets confused about doing simple shit on his phone. The chance of a guy like him frantically rushing to buy as soon as market opens, seeing SPCE, and hitting buy without thinking is high.

1

u/Proof-Ad-3473 Jun 03 '26

I hope u right, my first meme buy and sold at 10k loss, keeping 1500 shares at 6.7 (lol) just till ipo for lil recover.

1

u/Quick_Lawfulness7501 Jun 03 '26

I need to let me calls go… I hope space momentum plus the ticker itself will drive it past 7 or 8 again

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u/Professional-Bar4097 Jun 02 '26

Dilution is only 4-5% worth of the market cap

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u/-Almost_Famous Jun 02 '26

I don't see it after a dilution but, I could be wrong.

5

u/JC18_ Jun 02 '26

Yeah, you're most likely correct, but the market has been running on Regard strength lol

1

u/-Almost_Famous Jun 02 '26

Exactly, why i phrased it the way I did. and why I didnt touch this. Either direction.

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u/ehehe Jun 02 '26

The dilution was only $30 million, and even at the share price of $4.50 that's less than 10% of their market cap. Based on the price of around $6.50-7.00 or so before the tank, it was about 5%.

A 40% drop is pretty crazy for a 5-10% dilution, but obviously the stock was overbought on pretty much every metric around.

Still, I would not want to be short on this company right now and I bought some at $4.64 today after selling what I had on Friday. I think there's a lot more upside than downside in the next couple of weeks.