πSpaceX IPO'd, and then it didn't....sort of
π Elon finally wrang the bell after spending 24 years of flying $#!t into space. It was one of the most hyped meme-stock IPOs ever!
The stock was supposed to start at $135 a share, but it opened at $150. And this sucker went all the way up to a high of $225.64 within a week.
Two trillion dollar market cap, roughly the GDP of Italy. Until it wasn't π .
Unfortunately for Retail the stock pulled an Icarusπͺ½. It flew too close to the sun, the wings melted, and down it came.
That's right. At the time of this writing it's back to $155, a 32% pullback from its high. I guess you win some, you lose some.
π€The AI twins might've gotten cold feet.
OpenAI and Anthropic (Claude.ai father) both filed to go public.
Then watched SpaceX face-plant in slow motion.
Might have given them some second thoughts.
β³ π’ OpenAI is now reportedly leaning toward 2027, with Sam "I don't do discounts" Altman refusing to list below a $1 trillion valuation.
β³ π₯ Anthropic is still angling to go first. Technically they can list as early as October. But the quick SpaceX draw-down has made the AI-technocrats a wee bit nervous. At least one report has them slipping to 2027 like their twin brother Hansel.
β³ π² The banker pitch to Hansel and Gretel: whoever lists first "defines the industry." Pretty high stakes for a coin flip (maybe it's best to check the Kalshi odds first.)
πΈ The lesson here is as old as Adam Smith:
Getting in vs. getting in at the right price are two entirely different games.
SpaceX just gave every pre-IPO unicorn a live demonstration of what Mr. Market does to a rich valuation and a thin float.
And suddenly now everyone is Persian. They all want to be fashionably late.