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SpaceX Stock Hits New Low Since IPO After Rocket Launch Called Off (www.businessinsider.com)
submitted 3 months ago by to c/business@lemmy.world
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[–] 14 points 3 months ago (2 children)

SpaceX has an incompetent CEO.

The product/service is excellent, but hobbled by incompetence at the top.

Punt the incompetent CEO, and start making money instead of losing money.

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  • [–] 5 points 3 months ago (1 child)

    Can't. He owns an huge majority of the shares, and got some crazy stipulation that his shares are worth 10x votes.

    The board has no power, and neither do shareholders. One of many reasons to steer clear of the stock as well as the NASDAQ 100 fund.

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  • [–] 3 points 3 months ago

    You're just clarifying that the removal will have to be by force.

    The fact remains:

    CEOs and other billionaires that fall upwards are a financial liability to shareholders.

    Throw money behind Musk or Zuckerberg, watch it swirl down the drain.

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