Nice

Yeah the IPO was a bag holding event. Use hype to entrap a bunch of smaller investors into holding the bag so the biggest investors can pull out.

Capitalism working as designed. Assets trickle up from the middle class to the very rich.

As always the suckers getting fleeced.

It was the third straight trading day of declines for a company that just 10 days ago orchestrated the largest IPO ever.

At Monday’s closing price of $154.60, average investors who bought SpaceX shares on the open market after its debut have now seen most of their gains disappear, market data shows.

The company itself — and holders of its previously privately held shares — made more than $85 billion in the initial public offering.