Anybody else get it for $135 a share today? Quickest money I've ever made! It will be interesting to see how it performs in the coming days, weeks, and years.
SpaceX
- Thread starter Superbone
- Start date
Did you get IPO shares? If so they're not allowed to be sold for 15 days. Let's see what it looks like then. I didn't buy any due too that restriction. I've been screwed by it in the past. The retail share miss out on being able to sell during that initial run up.
It depends on the broker, but in most cases the penalty for early selling is that you get frozen out of IPOs for a while. For me, that was no big deal, since I very rarely see an IPO that attracts my attention.
I asked to get in on SPCX and, to my surprise, had some shares allocated. My plan was to sell them by the end of the day pretty much no matter what, and I did, at 161. Of course I wish I'd moved on when it was stuck on 170 for an hour, but I wanted to see if it had one more surge left in it. Then the app stopped working and it slid from 163 to 161 by the time I got onto a different computer, which was annoying.
Watch the terms of your broker. I know Fidelity increases the penalty on the 2nd early sell and bans your from IPOs on the 3rd.
Good to know, thanks. I did use Fidelity, in fact, but our usual broker is E*Trade, and I still have a clean slate there.
OP
OP
Yes, got them through Fidelity at the $135 cost. I plan to hold them for a long time to come. The 15 day thing is not an issue for me at all.
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OP
My buddy said they were trading for $166.28 per share after hours.
Same here, in for the long haul. If the orbital data centers pan out they could be the next AWS PLUS all the ISP and space travel stuff.
The orbital data centers are a long way off, not least because you need to develop a cooling mechanism, since heat dissipates very inefficiently in a vacuum. Most likely, it will be one of the ideas that Musk abandons once he figures out it's impractical.
I held onto a few SPCX shares in another account, so in some sense I'd like to see it succeed, but it will be several years before anything close to current valuation can be justified, and that's with the most optimistic projections.
I’m realistically 15 years from retirement, so there’s no rush from that perspective.
And the impracticality is debatable. Launch costs per kilogram are trending way down, which is one leg of the issue. Cooling is the biggest hurdle, but not out of the realm of reason depending on the scale of radiators.
In the end it all comes down to engineering and bets in that regard against Musk and his team haven’t panned out.
If I’d told you 15 years ago a private company would be putting satellites into orbit at a tenth the cost of NASA per kilogram you’d have called me crazy. But here we are …
I may add more when the price comes down. I think the long-term future of the company is promising, but I'd rather pay 80 for the stock than 135.
Some have, some haven't. As a couple of clear examples, he said Tesla would have a million robotaxis by 2020, and that SpaceX would put people on Mars by 2027.
No I wouldn't have, because I don't know enough about the specifics of what it costs to put a satellite into orbit. I do, however, know the difference between a prediction fulfillied and a prediction unfulfilled.
Musk has some legitimate accomplishments to his credit, but he also has a well established track record of overpromising and underdelivering. Expecting SpaceX to buck that trend is folly.
Just look at the price targets for TSLA over time. Cathie Wood isn't alone in having gotten way ahead of herself on TSLA, but she might be the most notable example. In 2018, she said TSLA would reach $7000 by 2023, which works out to $467 after the splits. It finally got there by the very end of 2025. In 2022, she said it would hit $4600 ($1533 split-adjusted) by 2026, obviously absurd.
There's a difference between recognizing that a company has solid growth potential and believing that it's going to successully defy all rules of physics and logic.
All that said, there's a good chance that I'll be joining you for the ride when the price comes down.
