this post was submitted on 07 Jun 2026
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You can keep doing this as long as there's a bigger idiot down the line. If you're still holding the stock when it collapses you're the biggest idiot and you lose.
SpaceXs initial valuation is so large it will distort the market, and they changed the rules so the index funds will all buy shares automatically to balance their portfolios, which will shoot the price up and balloon the valuation even further, then Elon and the investors that helped him buy twitter can sell at ludicrous prices at the expense of American 401ks and and passive managed pension funds.
It's a trillion dollar rug pull in broad daylight.
That's what they want to happen, but the biggest index fund are already shutting that down. The main losers are going to be his die hard sycophants, who won't be able to help themselves from buying this trap.
On behalf of my 401k, thank goodness.
Surely the SEC will shut down these shenanigans! /s
The thing is, the bigger the amounts of money involved the more idiots you need to actually push the price up and keep the fleecing going.
Mind you, the 5% float of SpaceX's IPO means you only need enough idiot money per cycle to move the price of $87 billion worth of stocks rather than the full $1.75 trillion, which is probably why they're rigging Indices to force Retirement Funds to be the idiots as it would be a lot harder to source enough idiot money out of Retail Investors.