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SpaceX Stock Plummets Below IPO Price as $1 Trillion Vanishes (townflex.com)
submitted 2 months ago by to c/technology@lemmy.world
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[–] 78 points 2 months ago (6 children)

No shit. A valution of 100x more than yearly revenue (never mind profits) should never have existed in the first place, and was most certainly a pump and dump.

Anyone who actually thought the stock price was going up from there was delusional.

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  • [–] 43 points 2 months ago (1 child)

    And how SpaceX got into the NASDAQ is very corrupt. They fast tracked SpaceX's IPO by breaking their own rules but still applied the same old rules to any companies applying for IPO after SpaceX. The folks In NASDAQ must have gotten under the table financial incentive from Musk.

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  • [–] 13 points 2 months ago (3 children)

    The delusional people run the world these days, unfortunately.

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  • [–] 13 points 2 months ago (2 children)

    Pretty sure it's conmen running the world, with the delusional propping them up

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