The bond market’s assessment also jibes with SpaceX’s stock. It’s a profitless, non-dividend-paying, one-person-controlled, empire-building project trading at more than 100 times sales, about 30 times the valuation of the S&P 500 Index. That’s the very definition of a junk stock.
Original link: https://www.bloomberg.com/opinion/articles/2026-07-02/spacex-is-junk-that-s-what-the-bond-market-says
Day 1: “Let’s see how this goes.”
Day 2: “It’s up 20%? I can’t miss out on this gravy train!”
After drop: “It’ll go back up for sure.”
I don’t know how fast it was before it peaked, but not everybody bought right away. Or people added more money after they saw it going up.
The IPO was 135, opened at 150 and closed on day 1 at 160.95 (but went up to about 175 briefly), closed day 2 at 192, then 201, and then it started coming back down.
So if you bought in on day 1 or on day 6 onwards, you’re probably doing fine, but anyone on day 2-5 and they’re hurting.
Everyone will probably be under by the time the insiders can start selling shares though.
Edit: Nasdaq 100 adds it tomorrow, so there might still be another pump until the insiders sell.
I bought right after the IPO at about $150. (A whole THREE shares lol) I watched it jump to $~220 and managed to sell at $215. Now it’s just a spectator sport.