SpaceX Stock Purchases by US Lawmakers Raise Conflict of Interest Concerns | Common Dreams
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"Members of Congress are continuing to buy and sell stocks as if they’re on Wall Street," said Rep. Pramila Jayapal. "We need a FULL ban on congressional stock trading."
    • REDACTED@infosec.pub
      2·
      2 days ago

      I genuinely don’t understand their play, especially google with nearly 100b in stocks. It was known that SpaceX opening stock price was overvalued, so statistically there is a far better chance of it going down than up once the trading starts. It’s been steadily going down ever since launch as expected. If they think SpaceX will accomplish some breakthru in the long term, then why buy at start instead of when it pretty much stabilizes

      I know I don’t have any insider info, I’m not trading guru and I’m probably missing something here, but it’s just weird to me

      • Vetis@sh.itjust.works
        2·
        1 day ago

        Google got in years ago at a price around 10$ or lower per share. They didn’t get in during the IPO / after.

        My guess is they will simply take back all the money they can whenever some shares unlock. They did make >x10 returns in a few years, at the current (overpriced) value of 115$ / share.

        I think this is Elon’s strategy. Everyone who got in early will be happy to sell even if the stock completely crash down, making big profits. Everyone else is just another bag holder thinking they are getting in at a “deal of a lifetime price” as they see something once worth 220$ down to whatever it is.

        Edit: I looked it up, Google got in at 1 to 1.20$ per share back in 2015. It’s only in the news now because they had to disclause a massive gain from their initial investment. They will be able to start selling next week.