Technology

What a facade this "corporation" shit is. So the "stake holders" had literally the #1 space company in the world and agreed to merge it with two failing products in their own respective niches?

I think people might see that sometimes, but not understand why, because they just see a starship blows up headlines and don't understand what is happening as it's a test program (for now), and the headlines / stories don't convey that.

So when things explode, sometimes it's fine, and the stock might go up because a lot of really important things still were tested, some for the first time, and they went well.

Other times, things will explode and it can cause huge delays, and while they learn something, it's still 'bad' compared to the above blow ups, and the stock will very likely go down when these ones happen.

And then sometimes, something goes wrong on the test pad and you blow it up, and that is very bad. It's a test pad, its meant for that, but it causes huuuuuge delays.

But OP is right, they brought this new chaos upon themselves by going public. They really shouldn't have done it yet.

I don't own any ai effected tech stock, but I know my entire portfolio will go down when the ai bubble bursts. Sucks. Not sure if I'll try and sell off and buy the dip back in, or just ride it out, yet.

We all get to prop up this failing stock in the next few days, when the Indexes start getting forcibly loaded up

Indexes won't start buying into these stocks for a few more months. And they aren't forced to buy. They set their own policies, they answer to their own boards, and they can absolutely choose to avoid this stock if they choose.

I would say the bigger threat is SPCX stock undergoing the same manipulation and price-pumping we saw happen with Tesla. When the SEC is fully castrated, the Feds have already acknowledged SpaceX is "Too Big To Fail", and the big banks all have oodles of shares leveraged to the hilt, there's a vested interest across the board in this stock going up up up forever.

Then the disease will just be endemic in our portfolios.

The disease is the stock market as a whole. Asset inflation creates malinvestment. The fixation on economic growth means we'll immolate useful capital in the name of the Big Number Going Up. And disproportionate ownership stakes cause property to congeal into fewer and fewer hands with every generation.

Our portfolios aren't at risk, because our porfolios are less and less important to the final valuation of these markets. This is six big companies sucking each other off in an ouroboros of graft and fraud. If the markets went to zero tomorrow, we'd be far better off over the long run than if this post-COVID bull run never ends.

The entire fundamentals game was broken back in around 2012 when, in the aftermath of the 2008 Crash, Central Bank meetings setting interest rates became more important in setting the direction the Stock Market took (up if they lowered interest rates, down if they did not) than fundamentals.

It just so happens that the period when Uber rose coincided with that period of high interventionism by Central Banks which lasted almost a decade since their solutions for the 2008 Crash did not address the underlying causes and the recovery following that Crash was one of the slowest post-Crash recoveries ever (in fact, Interest Rates and GDP Growth are still not back to their historical trends).

It wasn't Uber who broke the Financial System's reflection of real wealth creation, it was Zero Interest Rate Policy flooding the Economy with pretty much free money and Too Big To Fail meaning that certain Financial Institutions could do every Financial Crime they felt like and never really be punished for it and take any risk they felt like because Central Bank money was always there in the background to save them if they went too far.

Yup I went back and forth of whether or not to keep my shares but it was only like three so I wasn't going to be a millionaire anyway.

Bet you wish you held it now though. Up about 7x since it first opened.

There's a lockup period ya. I heard they reduced the duration though, but it's typically 6 months.

Anyone who bought at $135 the money went into SpaceX's balance sheet.

For now, anyone buying after the $135 is buying from people who bought those $135 shares.

Mark Cuban is famous for having zero cost collared his shares that he couldn't sell and getting out of the dotcom bubble with his money since it protected him from the downside that happened, so maybe it's possible they've done that here as well?