SpaceX Stock Plummets to Record Low Near $120 After Seven-Day Slump
townflex.com/spacex-stock-plummets-to-record-low-near-120-after-seven-day-slump/Replying to @stermy4u@lemmy.world
First round of insider shareholders haven’t legally been allowed to even liquidate yet. This will be a bloodbath.
Replying to @stermy4u@lemmy.world
do we know when that’s gonna happen? i heard they used some loopholes to allow insider holders to sell early.
Replying to @nialv7@lemmy.world
It’s more a question what’ll happen to the other AI companies. Investors have now seen the first of the big ones tank. They’ll wonder if the same will happen with OpenAI, Antrophic and other AI adjacent like Microsoft, Nvidia. For a bunch of companies living of venture capital, that’s deadly.
Replying to @Flower@sh.itjust.works
I thought SpaceX made space rockets?
Replying to @Simulation6@sopuli.xyz
After the merger with xAI, that’s about 22% of their business. The rest is AI. The brochure will tell you about reaching for the stars and living on Mars, but the main product is actually Grok.
Replying to @Flower@sh.itjust.works
Which just goes to show you how bullshit the profit margins are on space travel when they gotta turn the business into a chat bot to be “profitable”
Replying to @Peppycito@sh.itjust.works
I disagree. That part is actually a somewhat reasonable business (though partially held up by public funds through contracts). The issue isn’t what part is profitable. The issue is what part is getting all the investment and speculation. SpaceX was probably still overvalued for a space company, but they were doing something with measurable tangible value. The AI side is pure promise, and it’s only speculation, and the speculation is wild. It’s valued higher than something that’s actually making profit.
Replying to @Cethin@lemmy.zip
I get what you’re getting at, but I’d argue that we should look holistically at spacex. If their business model is launching a bazillion satellites and making a bazillion dollars we have to look at the entire launch complex as operating capital of starlink and spaceai. It all depends on starship launching a bazillion times a day so we should include development costs of starship as costs of starlink. The need for these businesses are necessary because the boom in private bookings of rocket launches that was anticipated with cheap launch services hasn’t materialized and so they have an airport and planes without passengers.
I ain’t no rocket economist but it seems “all the money” that starlink makes arent enough.