- cross-posted to:
- technology@beehaw.org
- cross-posted to:
- technology@beehaw.org
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That’s because it was severely over valued for a company that produces no product and makes no profit.
To be fair it was a solid pump and dump.
You mean creating a worldwide communication system that has to be completely relaunched every half decade that is the exact opposite of profitable isn’t sustainable!?
Actually the Starlink division itself is profitable.
The unprofitable part is Twitter and xAI which got merged in right before the IPO.
SpaceX was actually on the path to being quite profitable, but then Musk tried to hide his two biggest money sinks inside it.
Profitable like Tesla? That is not actually profitable without a big chunk (like a third) of their money from government subsidies.
https://www.congress.gov/119/meeting/house/117956/documents/HMKP-119-JU00-20250226-SD003.pdf
It appears SpaceX may not be as highly leveraged with the government with only 20% of its total revenue from government contracts.
It is interesting to look this up but ultimately what I mean is long term profitability considering they will have to continuously replace their satellites every 5-10 years.
The combining of his companies is a whole other level of fuckery that regulators should have smacked down instantly, but you know reality.
Seeing musk fail makes me giddy. Seeing people who dumped and lost their money on him makes me giddier. FAFO
Unfortunately, a lot of people didn’t have a choice in the matter.
A lot of Americans voted for this clown, remember? And most of those voters were fine when DOGE destroyed the lives of many. Now it‘s their turn to pay up. Let this be a lesson for Americans. Subscribing into an ideology of selfishness and hatred comes at a cost for society.
And a lot of Americans didn’t vote for this clown, remember? Those are still being punished with this bullshit.
?
Your money in savings and insurance and superannuation funds is often reinvested in shit like this.
It’s worth dropping yours an email and asking whether they do or not…
The 401k that americans use also automatically invested in it if they didnt opt out iirc
There isn’t a single 401k that Americans use. 401k is an index fund, an investment vehicle. I’m sure many included SpaceX but plenty did not.
And as an individual you can’t really “opt out” of individual stocks in the fund. You could roll all of your investment into a different fund that doesn’t include the stock you don’t want, but I don’t know of any broker that allows people to pick and choose which stocks they want to use in their 401k. You give them money, they manage the fund, that’s how it goes.
Oh, I hadn’t clocked until now that 401(k)s are a pension fund. I guess that means they are basically the same as superannuation.
Is musk the first person to lose 1 trillion dollars? Quite the honor.
Prime wallstreetbets material
Indeed lol, I should have shorted Spacex
he can drop still further
Good. Maybe one day the investors will see this idiot for what he is: a greedy racist fascist. And stop investing in his bullshit.
They won’t do that. They’re also greedy racist fascists. That’s what capitalism is.
They don‘t care about the racist fascist part but he‘s also a massive fraud who build his empire on short legged lies. It‘s simply irresponsible to believe that guy.
It was only ever worth that much to the absolute dumbest motherfuckers on the planet.
This is the sort of news that achieve nothing and only give this guy visibility
Sell side stock news is usually made to help retail investors lose money. They will pile on to this thing for a few more weeks then reverse it back up to 3 trillion. Rinse wash repeat. And you have infinite money generator 2.0
And they’re gonna sprinkle this into our index funds, yay!!
It’s going to be interesting to see what happens to the stock price the next time SpaceX blows up a test rocket.
or china and russia start disabling them in orbit
Its everything I hoped for.
good, we knew it was bloat but it was still annoying af listening to people go “wow a trillionire”, fucking wealth glazer are garbage people 9/10 times.
The majority of people who have bought SpaceX stock are now down at LEAST 18% in value.
I bought a dollar of it just to track it and now it’s worth $.80
