the rich don't want to invest in this nonsense so they dumped it into index funds and regular people's retirements.

S&P refused to change the three week rule, unlike NASDAQ

Non-profitable tech companies often lose value on the stock market after an IPO.

Pretty much every IPO the prices jumps for a few days, excitement of it drives prices up. Then the level heads prevail, but in the long run they pretty much all go up over time.

The only part of SpaceX that's profitable is StarLink. It was priced so highly on the hope that the AI portion will pay off. Maybe it does, but at least currently they are significantly behind Anthropic and OpenAI among others. And given Musk no longer has a great track record on delivering products quickly or well, I wouldn't bet on SpaceX being first

It may take awhile for reality to subdue market hype. OTOH, with the felon shoveling billions of our tax dollars at xAI and the host of circular, incestuous deals in the AI ecosystem, it could remain artificially pumped up for quite a while.

The thing is, Starlink is the "cash cow." But with the acquisition of xAI the "company" as a whole is a dog.

And with the entire U.S. economy already an all-in bet on AI, further pumping the bubble up with the obscene xAI over-valuation buried inside SpaceX will just make the fall, when it comes (and it will come) all the more precipitous.

SpaceX Segment Financials (2025)

Overall operating loss $2.60 billion

Connectivity (primarily Starlink)
Operating Income $𝟒.𝟒𝟐 billion

Space (Launches and Nasa)
Operating Loss $0.657 billion.

AI (xAI)
Operating Loss 6.36 billion

Then there is also the fact that a lion's share of the capital they sought to raise (and insanely got) is earmarked to payoff creditors and investors. In other words, the primary purpose of the IPO was not to raise capital to invest in growth, it was to raise money to pay off money already spent to get to the losing place that company is at right now.

https://youtube.com/shorts/Oom9hmicUg4

Highly speculative, at any rate. But I have long since retired from the stock speculation game, so what do I know? Only two stocks interest me anyway, and one of them, Texas' own TXN (Texas Instruments) has gone from $177 at the beginning of this year to $320 today. I haven't bought or sold a share since 1998. At this point, it is strictly a spectator sport for me. I have heard of the gazillions made by investing in NVIDIDIA, but that's for people who have the time, the money, and the desire to play. When I was 49, the subject interested me. Now, at 74, I'm like the "Being There" character Chauncy Gardener.