Just imagine how many problems 600bn USD would solve. Instead, it's just fake virtual currency flowing through the hands of a few billionaires
this post was submitted on 19 Jun 2026
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They could probably just about clean a small pond for that amount of money.
They could put a mirror finish on the bottom and fill it with quick set epoxy.
This is the usual fleecing of the retail investors by the institutional sponsors.
The only people surprised are the retail investors.
xAI buried inside SpaceX wasn't enough to make them uncomfortable?
It's worse than that... what they IPO with is basically a tiny percentage of SpaceX composed solely of xAI
The entire stock market is basically 99.9% blind speculation and 0.1% basic math, which is why it rarely makes sense
It's not even a surprise, this is from SpaceX s-1 document: only 7% of their estimated valuation is from Space related activities
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That's what I was referencing, I'm surprised the regulators and the exchange let that happen
You are surprised that the people doing this during Occupy Wall Street are allowing this?
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One should note that the stock is still up $50 per share up from its IPO price ($135 vs $185 or about 37%). Also the Cursor option was fully outlined before the IPO so it shouldn't surprise anyone.
Not that I don't think all of this is dumb, it's just another hype / gambling stock without much substance led by Elon who got his Twitter buyout.
No crying in the casino
The only people that got in below 160 a share are insiders, space x employees and institutional investments. That's why they did a day 1 rug pull when the stock reached 180. They made sure no matter what was gonna happen, they weren't going to be the bag holders.
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The valuation of the stock is based on Musk doing what he's always done, which is making seemingly impossible promises sometime in the future.
You know what he promised by 2025? A fleet of driverless Tesla taxis. xAI producing the first AGI. A human being on Mars planting a flag.
You know what the evaluation of SpaceX is based on? The promise of a Mars colony with one million human inhabitants, and space-based data centers. It's going to be decades before it's worth the IPO, if ever.
In the meantime SpaceX is in debt 20 billion, and is bleeding money. It lost $4.94 billion in 2025.
So it looks to me like a private equity project. Like Toys 'R Us or Radio Shack or Claire's. Remember those?
And Nasdaq-100 is fast-tracking SpaceX into its portfolio after 15 days. Soon, pension funds and 401(k)s are going to feature SpaceX stocks. So when it does implode, a lot of worker-class folk are going to eat the loss.
You know who I bet will not be eating the loss? Trillionaire Elon Musk.
Jesus Christ thank you for reminding me to confirm I keep his shit as far away from my pension as possible. Thankfully I'm in Canada so I feel there's a hope
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Initial price was $135. Then it climbed to $210ish. Now $185.
Pretty regular stuff for a new IPO meme stock. Don't go on the ride if you don't like the speed.
There is literally nothing but hope behind the valuation. Same as Tesla. Just dreams and hopes.
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Sure would be nice to have some food, affordable housing, and healthcare…
Get out of here, fracking lazy SOCIALIST!! 😡
They keep going around trying to make the world a better place. Awful hateful people.
Right??! Frack them!!
Y'all just need to pull yourself up by the bootstraps
Down 6%.
The line wiggled a bit.
Well, and 5% the day before, and likely another 10% by the time it shakes out.
Morningstar puts the price at $62/share, so that's a possibility there.
I think you mean PLUNGED or DECIMATED!
/s
Also I’m sick of these words in titles. As you said it’s barely a ripple overall.
TBi slams sensationalist headlines!
I get it. I have a uniquely shaped rock that I found in a ditch. I value that thing at about 530 billion dollars. /s
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They diluted the stock 3.4% in less than a week of trading 🤣. Invest with Musk at your own risk.
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That drop is more than it’s worth.
I hope every Nazi piece of shit with money in this ends up destitute as fuck.
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It's the simplest idea in the world, if a company's outgoings are more than it's income then how is it going to generate profit for the shareholders? How did no one think of this?
The stock market doesn't work like this anymore and hasn't for several years... maybe decades. Share price is completely decoupled from fundamentals. The way you make money for shareholders is by getting the stock price to go up and what the actual company does or doesn't do is not particularly a consideration anymore.
I go one step further and say that I personally believe the market itself is rigged, has been rigged since just after 2008. It is fully under control by dark pools, algorithms, HFT and AI. We will never again see an appreciable crash in the market, just things which vaguely resemble "normal" market action as the overall line continues to go ever upward.
The stock market is now fully a money-generating machine for the Epstein class. I have been saying this since about 2014 when I read Flash Boys by Michael Lewis and the Dow was at 18,103, Nasdaq 4,773. Even today with this news, the Dow is up currently 72 at 51,564 and the Nasdaq is up 496 at 26,517.
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Money isn't real.
Once again, wealth trickles up to the billionaires.
Capitalism! Gotta love it, or not.
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Former world's first trillionaire
The other day I made a comment on the original IPO post saying that he isn't a trillionaire because the IPO isn't promising anything and got argued with about it.
Even Goldman Sachs was saying the IPO was ridiculous.
Everyone involved in this entire affair was an idiot. XAI has absolutely no product to speak of, where's the valuation coming from?
But you have to understand, if we regulated these people, THEY WOULD LEAVE! then what would we do?
OH THE HUMANITY! WHAT WOULD WE DO WITHOUT THE BILLIONAIRES!!?!
Interestingly enough enough places in the world have attempted to tax billionaires that we do have some data. For the most part they don't leave.
They can afford the tax anyway, and really the whole point of money, as far as their concerned, is to just throw it at people to solve problems for them. They don't want to pay extra tax on principle because they don't think other people should get their money, but they also don't actually care enough to go to the effort to leaving.
Besides where would they go?
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