this post was submitted on 21 Jul 2026
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358
SpaceX Stock Plummets to Record Low Near $120 After Seven-Day Slump (townflex.com)
submitted 1 day ago by stermy4u@lemmy.world to c/technology@lemmy.world
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[–] stermy4u@lemmy.world 129 points 1 day ago (2 children)

First round of insider shareholders haven’t legally been allowed to even liquidate yet. This will be a bloodbath.

[–] nialv7@lemmy.world 7 points 21 hours ago (2 children)

do we know when that's gonna happen? i heard they used some loopholes to allow insider holders to sell early.

[–] Flower@sh.itjust.works 14 points 20 hours ago (1 children)

It's more a question what'll happen to the other AI companies. Investors have now seen the first of the big ones tank. They'll wonder if the same will happen with OpenAI, Antrophic and other AI adjacent like Microsoft, Nvidia. For a bunch of companies living of venture capital, that's deadly.

[–] Simulation6@sopuli.xyz 6 points 19 hours ago (1 children)

I thought SpaceX made space rockets?

[–] Flower@sh.itjust.works 26 points 19 hours ago (2 children)

After the merger with xAI, that's about 22% of their business. The rest is AI. The brochure will tell you about reaching for the stars and living on Mars, but the main product is actually Grok.

[–] Peppycito@sh.itjust.works 7 points 17 hours ago (1 children)

Which just goes to show you how bullshit the profit margins are on space travel when they gotta turn the business into a chat bot to be "profitable"

[–] CybranM@feddit.nu 6 points 17 hours ago (1 children)

I mean the only part of SpaceX making money is the space part, starlink

[–] Peppycito@sh.itjust.works 8 points 16 hours ago

That's the part making revenue, we're unsure if it's making a profit.

[–] danc4498@lemmy.world 2 points 17 hours ago (1 children)

I was wondering why the stock price was so high. Makes a lot of sense now.

[–] anomnom@sh.itjust.works 1 points 27 minutes ago

Funny way to put it. Since it really makes even less sense to be valued higher with twitter and grok added. Since they both lose money.

[–] fullsquare@awful.systems 4 points 20 hours ago (1 children)

some people say it's august 8 then august 20

[–] Itdidnttrickledown@lemmy.world 1 points 17 hours ago* (last edited 17 hours ago)

Does anyone say it on a platform that I'm willing to access?

[–] MyFriendGodzilla@lemmy.world 12 points 1 day ago

Gonna go grab my rubber ducky.