Greed and envy. Not good looks for the Left, but they are all running with that since SpaceX’s IPO launched Elon Musk into the trillionaire stratosphere. The whining and screeching over the IPO has been something to behold.
David Meier, senior investment analyst at the Motley Fool, said the high demand among the public shareholders — and the relatively small number of SpaceX shares available to buy — materialized into a “nice price bump” on SpaceX’s first day trading.
“I expect the buying demand to remain pretty strong through the summer, as both retail and institutional investors have shown their excitement for the company,” he said.
The company sold a record $75 billion in IPO stock despite the company’s history of losses, including $13 billion since the start of 2023. SpaceX took its business public with an ambitious, even far-fetched slate of business goals, such as putting millions of satellites into space for data centers to power AI from orbit, and establishing a colony on Mars with 1 million inhabitants.
SpaceX President Gwynne Shotwell was on-site for the opening of the market at Nasdaq’s bell-ringing in New York.
Earlier Friday, Musk issued remarks from the site of SpaceX’s headquarters at Starbase, Texas.
“It is certainly hard to believe that a little company that started in a warehouse in El Segundo [in California] is now going public with the largest IPO ever,” Musk said. “If people had told me this was going to happen, I was like, ‘Man, you must be smoking some really good crack because I think this company’s going to fail.’”
SpaceX may have had some monetary losses, but we should also remember that, if it weren’t for SpaceX there would be some astronauts STILL stranded in space after the Boeing Starliner debacle.
But now that SpaceX launched its IPO, that jumped at least 20% in price by the end of the day, the left is really having a tantrum. Elon Musk is NOT ALLOWED to make all that money! How DARE HE??!!
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