BREAKING: SpaceX Crashes Below IPO Price as Insiders Sell

SpaceX Stock Just Violently Crashed Below Its Opening-Day Price, Erasing Hundreds Of Billions... The stock slid to a record low of just over $145 by late afternoon on Wednesday — below its IPO opening price of $150 — a disappointing outcome for investors, who were hoping the Nasdaq-100 inclusion could boost values instead, as the SpaceX stock tumbled 7% on Tuesday despite the company's inclusion in the Nasdaq-100 (*NDX). Typically, the addition to a major stock index would prompt buying from ETFs and mutual funds that track the index. Morgan Stanley initiated coverage, rating shares of SpaceX as "overweight" with a price target of $300. Bernstein initiated coverage at "outperform" with a price target of $239. RBC initiated with an "outperform" rating and price target of $225. UBS initiated with a "buy" rating and 12-month price target of $210 per share. And with the record number of Wall Street shells and tech shells behind it, you'd think that the stock would be doing really well right now. But with SpaceX, they crashed instead. And why? Because this whole thing was a trap from the start. It's a multi-layer trap too. The first part of it was the bait in all of the tech and Elon fanboys who don't really understand the market, you get them to buy in at higher and higher prices. And of course, as we saw over the past couple weeks, they got rug pulled. The SpaceX inclusion also required index funds and exchange-traded funds that are tied to the benchmark to buy shares of the company in order to match the new lineup. And of course, which do keep in mind, that did still happen. The funds like if you have a Nasdaq fund, you still bought SpaceX. And of course, a tail as old as time. Wall Street and the big money, they pull it off again. Wall Street is not an insider. They're trading, they're trading with big money. Retail investors literally never learned. It's crazy. But do keep in mind, this thing is still not over. Like I said, it was mostly just Wall Street and like anyone who was trading on the open market who did the rug pulling. There's more insider shares to be unlocked here. And every time more insider shares get unlocked, it's just gonna dump like crazy because do understand that their averages are way under IPO price. They're insiders. They have shares from years ago. In other words, one of the largest wealth transfers in Wall Street's storied history, from SpaceX insiders to unsuspecting retail investors, is roughly a month away from commencing. This thing will keep dropping, it'll go to 100, it'll go under that and it'll keep dropping because the insiders are still going to be in profit there, right? This thing was always just a generational cash out for the insiders. They're all the same, even if they're like better or whatever. They're all wildly overvalued and they're all gonna do the same thing. They're all wildly overvalued and they're all gonna do the same thing.