Yeah the IPO was a bag holding event. Use hype to entrap a bunch of smaller investors into holding the bag so the biggest investors can pull out.
yup
I think a lot of IPOs are like that
And the best part? Retail couldn’t divest within a set period by the ‘rules’ or something. So even if they wanted to sell, they are prohibited lol
Capitalism working as designed. Assets trickle up from the middle class to the very rich.
Nice
As always the suckers getting fleeced.
It was the third straight trading day of declines for a company that just 10 days ago orchestrated the largest IPO ever.
At Monday’s closing price of $154.60, average investors who bought SpaceX shares on the open market after its debut have now seen most of their gains disappear, market data shows.
The company itself — and holders of its previously privately held shares — made more than $85 billion in the initial public offering.
