The countdown for SpaceX's IPO is seven trading days. TechGod Elon Musk and his investor peers will serve up a minimal number of shares. Jesse wrote:
SpaceX is absurdly overvalued, but the rules that will compel index funds into forced buying have been distorted just for this final gasp of the AI bubble. This is a shocking betrayal of fiduciary and regulatory duty. Not only can they see what is coming, they are acting purposely to make it happen again for their own selfish gains.
Wall Street joined in making numerous special accommodations for the richest man in the world.
Morningstar suggested SPAC-EX's IPO is pro-executive, pro Elon and riddled with conflicts of interest, the new badge of courage in Washington, D.C. and corporate executive suites.
The SpaceX IPO is as tilted as a Chamath Palihapitiya SPAC, so buyers beware!
It should be a picturesque IPO if it makes it off "the pad."
Update 6-6-26: Jesse wrote:
There are some key IPOs coming out later this month. As always they involve a scandalous manipulation of the rules of the exchanges to benefit a wealthy few.
“Not only did Nasdaq gut its 'seasoning' requirement to allow SpaceX into its index only 15 days after its IPO, it also changed how it adjusts its weighting in the Nasdaq 100 index for 'low-float' stocks.”Although only those who understand how these things work may understand it, this is a scandal of the highest level. If we had a functioning regulatory office this would not be happening. But this is the naked face of the kleptocracy.
Update 6-8-26:
Update 6-11-26: SPAC-EX bought 1,300 Cybertrucks from Tesla.Trump sparked the equity markets today with yet another whopper about taking a pause from bombing Iran to work on a peace Memorandum of Understanding.
More likely this is a courtesy to Elon Musk, who is squeezing out a whopping pig of an IPO tomorrow for SpaceX at a wildly confabulated evaluation of $135 a share, in his never-ending quest to become a trillionaire.
The Street knows this. They absolutely know what is what about all of it. Trump and the Congress know that he is lying through his teeth.
They don't care. They just want to get paid. They all have the same moral sensibility, which essentially none.
