alt.hn

7/1/2026 at 5:14:01 PM

Tech giants lose $2T in SpaceX's IPO month

 https://english.elpais.com/economy-and-business/2026-07-01/tech-giants-lose-2-trillion-in-spacexs-ipo-month-the-valuations-were-unsustainable.html

by 01-_-

7/1/2026 at 6:03:16 PM

Tech Giants don't lose it as such, the owners of the shares do. Many of them ordinary people caught up in it - as the big boys pump it up, employ people to post on message boards online to hype it up and then get out first with the profits.

For the tech giants, it was just free money as the shares went crazy

by khurs

7/1/2026 at 5:21:35 PM

I guess we will see the appetite for mega IPOs go down now. Great for the first mover, the rest are now stuck until 2027 and we forget about SpaceX

by AFF87

7/1/2026 at 5:45:27 PM

Perhaps, perhaps not. SpaceX's IPO is weird in a lot of ways, including how few shares they sold.

Also weird: owning its own social media platform with which to boost itself; and the CEO is reported to have ordered his tweets boosted by the algorithm; and the CEO was almost banned from operating a publically traded company after tweeting things that materially mislead investors before being given the powers of a government agency without the responsibilities, and then used that power to gut regulators he saw as standing in his way.

And I'm about 7k words into writing a blog post about how wierd those orbital data centres are.

If Musk hadn't picked a fight with OpenAI and the US government hadn't had one or possibly two fights with Anthropic, I'd say current market conditions aren't the reason to worry about OpenAI's and Anthropic's IPO.

Running out of electricity, that may be a reason to worry. But not a market dip, those happen far too often.

by ben_w

7/1/2026 at 7:34:08 PM

SPCX opened at $160.95. It's now at $158.63.

S&P 500 one month ago was at $7,600. It's now at $7,500.

DJIA one month ago was at $51,078. It's now at $52,334.

These numbers are what this economy doomer porn article is based upon. Does that seem reasonable?

by thegrim33

7/1/2026 at 9:51:11 PM

An IPO trading under its offer price after less than a month and before most lockups expire is never a good thing. This is especially true for an IPO that only floated 4% of it's stock.

by jordanb