Charlie StrossJun 23

RE: https://mastodon.social/@blogdiva/116800702398076972

I remember this happening A LOT in 2020: overvalued prices at IPO followed by a brisk tumble and no recovery ever.

SpaceX has a viable rocket business (Kesseler syndrome permitting) but in no way was the IPO price justified and those shares are never going to recover this side of 2050.

Show threadadritheonly
@cstross So does this mean Musk is still a trillionaire or has his portfolio just tanked?
Jun 23 at 7:27pmWeb
Show threadCharlie StrossJun 23
@adritheonly At this rate he will cease to be a "trillionaire" within a few more days of trading losses. But it was fake from the start.
Show threadadritheonlyJun 23
@cstross [Beatific smile whilst contemplating this]
Show threadrandom thoughtsJun 23
@cstross @adritheonly
He's been selling significant amount of stock, he's banking it all in as fast as he can.
Show threadadritheonlyJun 23
@hittitezombie @cstross 😀