SpaceX Shares Stumble in Nasdaq-100 Debut

wsj.com

Interesting that even Nasdaq-100 inclusion could not keep SpaceX shares up. Probably the expected boost from index-fund buying was already priced in.

I hope that investors are finally looking beyond the hype, the valuation was massively over in my opinion. It is hard not to be conspiratorial about it given all the bending over backwards they did for the listing.

Also the massive valuation is seen by other capable countries and competition will be fierce. You can't continue to push your operations that aren't profitable without the government propping it up.

Other countries are already willing to foot that bill in batteries, EV, Photovoltaic, chips etc. And they have a big interest in controlling the space over their heads.

I don't think begin first here was defensible to begin with. There's a reason that the tax payers foot the bill from the start of the industry to today.

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