SpaceX's blockbuster IPO compressed years of post-debut volatility into a single month, and the fallout carries a warning for investors eyeing the next wave of highly anticipated tech offerings.
He didnt buy, he would have sold a portion of his own stock to bag holders. My guess is that he sold a portion of his stock through shell companies if he was at all worried about rules. He knew the whole thing was a scam. He knew the trillionaire thing wouldn’t last, but he knew that the valuation would be high to start, because all big IPOs start overvalued before settling back to something more reasonable. Which is why they relaxed the rules for early investors to be able to sell right away. So again, he sold at the peak, and immediately turned around and bought some other more stable stock.
He didnt buy, he would have sold a portion of his own stock to bag holders. My guess is that he sold a portion of his stock through shell companies if he was at all worried about rules. He knew the whole thing was a scam. He knew the trillionaire thing wouldn’t last, but he knew that the valuation would be high to start, because all big IPOs start overvalued before settling back to something more reasonable. Which is why they relaxed the rules for early investors to be able to sell right away. So again, he sold at the peak, and immediately turned around and bought some other more stable stock.
My bad, I misread.