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Their other posts in the index, biggest breakout first.
There's a financial time bomb hidden on page 84 of the official SpaceX prospectus. So if you were even able to buy into the biggest IPO in history, you might have walked into an engineered trap. I'm GigaChadian and I want SpaceX to succeed because it's cool. But I also want my community to understand how this kind of thing is done. Let's look at the real numbers from today's debut, under ticker SPCX. The profitable part isn't the rockets, it's Starlink, the satellite internet division. It generated $11.4 billion dollars last year. That's from 10.3 million active subscribers at a massive 63% EBITDA margin. Dan Ives, the famous analyst, called it a watershed moment for global markets. He also said something else that distracts me as rather insane. We'll come back to that. It is a huge moment. Elon, as we know, combines some companies, so we get that much more exposure to him, which has really been his game all along. He is the ultimate influencer. People want exposure to him, and you could say new Twitter has been financially rescued. I didn't touch it, but I don't blame those who did. If you tried to buy it, you probably got hit by underwriters with a massive allocation cut up to 99%. So try to buy 10 grand, you might get 100. When the bell rings, a tsunami of retail orders hit a virtually non-existent supply, triggering limit up, limit down bands are a standard mechanism. If it freezes a stock for five minutes if it moves more than 10% outside of its five-minute rolling average. In the interest of time, we'll skip a few technicals, because I'm sure you've heard anyway. This could easily be framed as a sort of exit event. Despite the performance, rather we should talk about the goal, preventing active retail governance. By favoring massive passive institutional funds locked into multi-year agreements, pairing them with class B super-voting shares that outvote you 10 to one. They are building a fortress, not necessarily because of SpaceX, but because of X AI. In Q1 of this year, they already torched over $2.5 billion. And this is also that company that holds the company you used to call Twitter. So on page 84, you have risk factors regarding related party transactions and it's obscured in dense legal language. One of the key disclosures includes a 13-word warning allowing for share dilution to fund affiliated entities like X AI. You'll also see an accumulated deficit of over $4 billion and a controlled company status under Nasdaq rules with Elon holding 82.4% of the voting power. He keeps going, no matter what happens, as evidenced by what we've seen with Tesla and his payment packages. Which is why I'm admittedly taken aback when I hear Dan Ives giving 80% plus chance SpaceX merge with Tesla within the next two years. There's a lot of regulation in the way. It doesn't necessarily make perfect sense, but I would say he's betting on regimes. And in many more ways than one. Everything's in play now. So do you have a strategy for this game? Let me know.