Yeah the IPO was a bag holding event. Use hype to entrap a bunch of smaller investors into holding the bag so the biggest investors can pull out.
I think a lot of IPOs are like that
yup
And the best part? Retail couldn’t divest within a set period by the ‘rules’ or something. So even if they wanted to sell, they are prohibited lol
Nice
It was the third straight trading day of declines for a company that just 10 days ago orchestrated the largest IPO ever.
At Monday’s closing price of $154.60, average investors who bought SpaceX shares on the open market after its debut have now seen most of their gains disappear, market data shows.
The company itself — and holders of its previously privately held shares — made more than $85 billion in the initial public offering.
As always the suckers getting fleeced.
