SpaceX Drops 14% in One Day, Price Now Below IPO Launch

https://finance.yahoo.com/quote/SPCX/

42•root-parent•2h ago

Comments

OnlyANeurosci•1h ago

pump and dump scheme, but your 401k bought some.

SpicyLemonZest•1h ago

Notably, today was the first batch of additions, which really does lend credence to the idea that it's just about people getting out after the forced buying. We'll see what happens in early July when it makes it into the Nasdaq 100.

netsharc•1h ago

Do 401k's know about pump-and-dump, but think they can time it to make profit? Or are 401ks "bound" to buy stocks?

It feels like a lot of retail buyers know the emperor is naked, but are still acting on greed, thinking they can "catch the falling knife" and time the market departure to profit from the hype...

smw•1h ago

A lot of them are heavily invested in index funds that added SpaceX at IPO due to market cap.

wrs•1h ago

The big indexes have a cooldown period before buying, which these scam artists attempted to radically shorten before the IPO, but they failed (at least partially). The S&P500, for example, will delay a year before adding it to the index. Nasdaq 100 was talked into reducing it to 15 days, so you might want to get out of the Nasdaq 100.

tombert•58m ago

I got rid of all my QQQ, which was substantial, but I didn't convert all my vulnerable portfolio because I wanted to minimize how much I pay in taxes.

I now use the Interactive Brokers MCP to make a "pseudo QQQ" which has all companies except Tesla and SpaceX in there, and I otherwise use the same weights as the official QQQ. In order to avoid tax overhead, my rebalancing is buy-only, no selling, so it's not a perfect analog to QQQ but it's close enough and I at least got some of my capital out of SpaceX.

0cf8612b2e1e•58m ago

S&P still requires one year(?) profitability, which SpaceX has yet to achieve. The recent datacenter rentals might have pushed it into a profitable quarter.

tombert•1h ago

I think it's much simpler. A lot of funds are tied to things like the NASDAQ-100, which SpaceX figured out how to get fast-tracked for. Once it's officially on the NASDAQ-100, stuff like QQQ has to buy it, whether or not people like the idea of it.

Of course active investors could do something like short Space X by exactly the amount that their funds have to more or less "cancel out" their investment, but most people aren't active investors.

jerjerjer•1h ago

They didn't even start on the dump part yet. Only initial 5% of the shares are trading so far.

ttcbj•1h ago

One thing I learned recently is that Vanguard Total Stock Market Index (VTI) is float-weighted. That means that SpaceX's percentage in the index is based on the value of the floating shares, not the total market cap. As a result, a fund like VTI, for now, doesn't have that much SpaceX. It will add more as the lockup periods expire and the float increases, but increasing float might also drive down the price.

neogodless•51m ago

Looks like the holdings update at the end of each month. Check back in ~8 days and look for SPCX!

https://advisors.vanguard.com/investments/products/vti/vangu... (there's a search by ticker under Holdings)

dolmen•1h ago

What a surprise!

cdrnsf•1h ago

A rapid unscheduled financial disassembly.

elzbardico•1h ago

QUOD ERAT DEMONSTRANDUM

contingencies•1h ago

AD TERRAM!

empath75•1h ago

The IPO price for SpaceX was _delusional_. The price now is delusional. Especially since it's so dependent on the US government for revenue and he's done everything possible to irritate the party that's about to take over the federal budget.

tombert•1h ago

It was insane to me that a company that had less than thirty-billion in revenue was valued at more than a trillion. I'm not sure how the People in Charge didn't call bullshit.

ifwinterco•57m ago

The way exponential maths works, if a company really can grow at (for example) 10% per annum then it can grow into what looks initially like a very high PE multiple on current earnings surprisingly quickly.

This is why people sometimes use forward P/E but that does have the obvious drawback of the denominator not actually existing yet.

However with SpaceX the valuation is extreme and also can they grow at that rate for years on end? Potentially not

mrcwinn•1h ago

For the sake of clarity, it's well above its historic IPO price, but near or slightly below where it began trading that day once it officially opened.

jeremywho•59m ago

Historic IPO price? It opened at $160 10 days ago, did it not? Currently it is below that price. What historic price are you referring to?

kriz9•55m ago

IPO price was $135

tcp_handshaker•46m ago

Wait for tomorrow...

pera•1h ago

-16.5% at the moment... Is the market reacting to the $20B bond offering news?

https://www.bloomberg.com/news/articles/2026-06-22/spacex-ki...

lucamark•1h ago

Let's grab some popcorn.

- Price/Sales about 128x (NVIDIA had a peak of a 40x at its peak)

- Bought Twitter per 44 billions. Inflated its valuation to $250 billion just by integrating it into X.AI

- EnterpriseValue/EBITDA about 219x (30x for scaleup business) and negative Price-to-Earnings

- Low free-float trick (minimal public shares available)

Even the market efficiency hypothesis struggles to justify it

tcp_handshaker•48m ago

Spare a thought for the investors who bought SPCX at $218 on the 16 June at 10:00AM...They REALLY needed that stock....

lucamark•21m ago

That's bad for ETF owners too. Funds will be legally forced to buy a tightly restricted supply that will pump the price even more

stackbutterflow•55m ago

Not convinced it means anything in one way or another.

I remember the same headlines right after Facebook's IPO. The discourse was very much that it was obvious that a website to connect with your friends wouldn't make money.

josefritzishere•54m ago

I think it was completely obvious from the outset that this was a pump and dump scam. I'm waiting for the insider trading charges to hit.

lousken•39m ago

why would you even invest into this bubble

r721•25m ago

Palantir -6.98%

https://finance.yahoo.com/quote/PLTR/

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