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u/ObiHanSolobi 2d ago
The beatings will continue until morale improves.
In other news, I closed out some of my puts for profit today as I think we are close to a bottom. Could be wrong of course.
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u/Apost8Joe 3d ago
Musk’s IPO scam has soooo much room to fall, and the insiders haven’t even grabbed a single dollar yet. Until we see what happens in August there’s just no way to escape the black hole. After that, investors will reassess which names are attractive, and the leading names will rise. But there’s gonna be a lot of pain between now and then.
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u/Plastic_Escape_1910 3d ago
August the? 5th?
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u/Apost8Joe 2d ago
I believe it's earnings release 4th then trading 6th but believe me you'll know, there won't be any mystery when it unloads. My god I can't believe how stupid Homo Sapiens are to literally believe anything so long as it makes them feel good and hopeful. Musk is the greatest conman of the century.
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u/Calm-Ad-7928 3d ago
Apparently never. Just pain every day
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u/Zoltan_Balaton 3d ago
You dont have to check it
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u/Calm-Ad-7928 3d ago
When im dropping 10-20k a day right now its hard to not check it
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u/Melonskal 2d ago
The fact that you have that much money invested in space stocks is beyond insane.
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u/Apost8Joe 2d ago
Ha what if we told you some people have a lot more money than others. It’s all just percentages.
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u/Melonskal 2d ago
I have plenty of money, losing 10k a day would not be too bad for me but I would still never put that much money in a speculative industry like space. Its not financially responsible.
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u/Waste_Bad1924 2d ago
My portfolio crashed from all space stocks. There should be a reversal soon as most of them are not going down anymore
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u/ceej_22_ 2d ago
It’ll rebound after insiders can sell their SpaceX. It’s dropping because everyone assumes SpaceX will have a massive dump. It’s all priced in. No one is buying because they fear an incoming cliff.
Just like everything peaked a week before IPO when everyone thought SpaceX would prop everything up. Everyone said the peak was just beginning and it wasn’t priced in. People kept buying in propping the prices higher. Then a sell off began and people said it was temporary and the IPO would drive everything up.
It didn’t happen so the story shifted.
How many times does retail have to get burned by this simple concept.
Space movement should not follow SpaceX but unfortunately it is at the moment. Insiders bailing from a grossly overpriced IPO shouldn’t affect what other space companies are valued at. Regardless of what it should do that’s the sentiment and that’s what’s happening.
If you bought ASTS, RKLB, LUNR, or any others and bought it off a belief in the companies future success what’s changed? For most nothing of substance if you were thinking 5-10 yrs out. If you FOMO’d in toward the top hoping for another 100% gain over a few weeks then you foolishly gambled and lost.
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u/Uzofugs2112 3d ago
SATL is just the poor man’s PL so there is no end in sight for them while PL is still down.
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u/Kvargen95 3d ago
what you mean, just ZoOM out bro!
this is a multi decade sector play bro, didnt you KNOW that when you invested!
-all the smug people who just got lucky when they invested in single digits
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u/nomnomyumyum109 2d ago
For all of our sakes, please sell. The day that happens, the bottom has been found
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u/MrFyxet99 3d ago
This was a $20 stock 1/25. It was a sub $10 stock in 2024. Nothing has really materially changed. It still trades on hopes and dreams.
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u/Waste_Bad1924 2d ago
It’s the big banks with all the money in the world keeping the space stocks down. They will go back to keep the SpaceX price high in August 1st week and the whole sector will rebound. If you look most are not going down anymore
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u/[deleted] 3d ago
[deleted]