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
I was wondering why the stock price was so high. Makes a lot of sense now.
Replying to @danc4498@lemmy.world
Funny way to put it. Since it really makes even less sense to be valued higher with twitter and grok added. Since they both lose money.
Replying to @anomnom@sh.itjust.works
As much as I hate them, losing money is not the same as having negative value. Yeah, the current number is total bullshit, but they do have a value that’s greater than 0. Information control has a value, and that’s what they provide.