this post was submitted on 24 Jun 2026
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258
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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[โ€“] uriel238@lemmy.blahaj.zone 6 points 1 day 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.

[โ€“] ikidd@lemmy.dbzer0.com 6 points 22 hours ago

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