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SpaceX Stock Slips Below IPO Price as Short Sellers Profit $15.5B (townflex.com)
submitted 3 months ago by to c/technology@lemmy.world
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[–] 2 points 3 months ago (1 child)

Some folks like to gamble! More and more people are desperation gambling these days out of doomer mindsets that see 0dtes and kalshi bets as their way out of crushing poverty.

And here and there, it's possible to look at pricing and conclude it's pants-on-head bananas. Trading and therefore price action is dominated by algorithms which amplifies hype cycles. Who couldn't see SpaceX as being overvalued? Other than the assholes at NASDAQ

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  • [–] 5 points 3 months ago

    And here and there, it’s possible to look at pricing and conclude it’s pants-on-head bananas. Trading and therefore price action is dominated by algorithms which amplifies hype cycles. Who couldn’t see SpaceX as being overvalued?

    But that's the problem. Many of us definitely knew SpaceX was overvalued. It should have been a no-brainer to short this stock at IPO... however, look at Tesla stock. That shit should have cratered years ago but still hasn't. I wanted to short this stock, but I didn't trust the Musk morons to not continue humping his sack. Even when you can see that something is pants-on-head bananas, there are enough idiots out there (and enough insider traders) making shit irrational.

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