If you value your money do not invest in SpaceX... It is essentially a corporate ponzi scheme and you will be left holding the bag as musk cashes out.
#DropSpaceX
Mikel 🇺🇦
This pre-IPO report on SpaceX covers points that haven't been as broadly covered:
1) The magnitude of xAI's drag on SpaceX earnings
2) Most of the $75B in IPO proceeds go to xAI
3) Beware of the SpaceX options market, given its thin float
(Paywall removed)
bradmunchen.substack.com/p/spacex-ipo...
The IPO is only 3.3x oversubscribed as of yesterday, with books closing after today's market close. Things look wobbly, but there's a lot of financial engineering that went into this.
