To my amusement, I am seeing dozens of posts talking about everyone’s excitement about buying SPCE.
News flash. You are buying the wrong stock!
SPCE is the ticker symbol for Virgin Galactic.
The SpaceX ticker will be SPCX.
I cannot even begin to wonder how many people are buying the wrong stock. You’re seeing SPCE options go through the roof and it isn’t SpaceX.
Oh well, the smart money on Wall Street preys on the ignorance of retail.
To me anyone who is buying SpaceX on the IPO should think carefully and slow down. $18.7 billion in revenue for a $1.8 trillion IPO valuation? Are you kidding me?
If you must buy the stock I would, if it were me, wait for the lock-up period to expire so the many, many insiders can all dump their shares first so that you can figure out what the real share price is.
To me anyway, buying SPCX on the first day of the IPO is losing your shirt. The market transfers wealth from the impatient to the patient as Buffet said. The insiders got shares of SPCX at a great price. Retail will not initially I believe.
By the way, Elon and the major insiders have agreed to lock-up period of 366 days. Other people with insider shares are at the standard 180 day lock-up period.
I could never imagine touching this stock until at least the expiration of the 180 days and probably the 366 for me anyway.