553
SpaceX Stock Plummets Below IPO Price as $1 Trillion Vanishes (townflex.com)
submitted 2 months ago by to c/technology@lemmy.world
104 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] 37 points 2 months ago* (8 children)

A lot of people really dont understand this.

SpaceX got the money. Its on their balance sheet.

Everyone who bought at $135 IPO price was giving money to SpaceX.

Everyone since then is just trading shares between each other.

The real shitshow starts once insiders can sell, until that happens we wont really know what price the market will settle at.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 8 child comments
    •
  • [–] 11 points 2 months ago (5 children)

    What's a typical lock in period?

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 5 child comments
    •
  • [–] 16 points 2 months ago (2 children)

    Usually around 6 months, but they pulled some shenanigans to make it shorter somehow, but i dont really know the specifics in this case.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 4 points 2 months ago (1 child)

    The article says nearly 1B shares can be sold next month

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •
  • [–] 3 points 2 months ago*

    For reference, of all the shares that were sold in the IPO, only 281m are able to be traded, the rest are in their own lockup periods from institutional investors. So 1b potential shares flooding the market in 1 month could increase the float by 3.56x

  • permalink
  • fedilink
  • source
  • parent
  • [–] 2 points 2 months ago* (1 child)
  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •