Tech giants lose $2T in SpaceX's IPO month(english.elpais.com)
english.elpais.com
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
9 comments
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
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.
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.
They are still above a ridiculously high IPO price. It's hard to see it as not a success.
I believe the selling window for early investors and employees is not yet open? [1]
[1] https://www.fool.com/investing/2026/06/24/the-spacex-ipo-unl...
[1] https://www.fool.com/investing/2026/06/24/the-spacex-ipo-unl...
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?
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?
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.
The bonds are worse.
https://www.morningstar.com/news/marketwatch/20260626275/spa...
https://www.morningstar.com/news/marketwatch/20260626275/spa...
Additional citation:
SpaceX Is Junk. That's What the Bond Market Says - https://news.ycombinator.com/item?id=48781352 - July 2026
SpaceX Is Junk. That's What the Bond Market Says - https://news.ycombinator.com/item?id=48781352 - July 2026
For the tech giants, it was just free money as the shares went crazy