If my monopoly money was suddenly turned into real money, I’d be buying as much stuff with it as quickly as possible too…
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The lofty valuation of SpaceX can also help Elon reach some of the TSLA share price targets that would unlock very lofty bonuses for him.
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Also, someone has to buy the self-driving vehicles that are going to roam out Mars colonies
And merging a profitable business into an unprofitable one helps to keep the charade up longer.
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Almost -20% at open then an immediate recovery of most of that doesn’t scream liquid stock of which the price has been discovered to me.
Looks like a game of hot potatoe to me with this little float.
It has more float in absolute amount than most companies. It’s more the usual Musk related volatility no?
Not for the amount of hype and investor demand it has. It’s literally the most talked about stock ever. Everyone and their mothers dog talks about it and wants for whatever reason.
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I think at this moment there are mainly buyers because no one wants to miss out on gains. So for time being every new buy will push price up. But at some point sellers will emerge.
however that would only happen once frenzy is over and there is another fast money making opportunity.
well for every buyer, there has to be a seller 
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I’m not so sure about that very last part (“wants”).
Mainstream media have been quite vocal in cautioning about the financial engineering, lofty valuations, lack of corporate governance, lack of float and unclear path to profitability.
Especially if you compare that to Tesla a couple of years ago. Yes, some people warned against its high valuations, but that wasn’t much reflected in mainstream media. Also, the advent and propagation of electric cars has been very tangible in modern, industrialised (stock-holding) societies. You can witness them in average neighbourhoods every day.
Whereas SpaceX is more like betting on the “fiction” part of science fiction. And a commercially failing social media platform. And a relatively niche internet service provider.
Besides that, I reckon that mainstream perception Elon’s of personal image has shifted quite a bit from slightly eccentric futuristic-thinking entrepreneur to right-wing nutter
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He has found the right narrative with datacenters in Space. It sounds cool and logical. Why wouldn’t it be colder in Space, so easier to cool the data centers? And why wouldn’t there be plenty of avaible solar power up there? And couldn’t you synergize with starlink for the transfer of data up and down?
Concretely, it doesn’t work, but the narrative does.
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Elon’s lives in - and speaks - his own distorted reality. He’s prone to making exaggerated claims and predictions - but also cunning enough to shift his narrative and pivot his business interests (as they suit him) to get away with it. He thrives on straddling a fine line between slightly outlandish tech / business ideas and the suggestion of actually being able to successfully manufacture and market them.
I’ll reserve judgement on how big and popular this is going to become. He might go on and merge Tesla and SpaceX. It may blow up big. It may just blow up.
But I feel we’ve about reached “Peak Elon”. He’s not going to top (going to) Space with something more spectacular. This is his endgame.
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Self-conscious robotic dinosaur-cars transformers in Space.
Edit: more likely: first cyborgs through Neuralink, then Portal’s portals, then time travel either developped by GenAI or through travel over the speed of light in Space.
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I think you both (Wolverine and San Fran) are half joking, I know you both know that this IS his ultimate dream. I’ve been watching Musk since he was a quirky nerd with a McLaren F1 and a fast receding hairline, but space and human-computer linking have been his ultimate passion forever.
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I got a bit carried away but what I mean is that he’ll probably need or want more financing in the future and won’t have the goods to show for it (colonizing Mars is way, way more difficult than he seems to realize and space datacenters just don’t make commercial sense). My point is he doesn’t risk coming short of ideas to sell and will manage it.
Yes but not every buyer is able to buy if there are fewer sellers
Then they’re really no more of a buyer than I am a buyer of a Van Gogh painting just because I like his paintings and would like to own one…
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It reminds me of the T-Aktie (Deutsche Telekom) in the year 1997. In Germany, everyone wanted it, but then the price plummeted and many people lost money. Among them were many many people who were investing for the first time and had never heard of diversification. With SpaceX, it’s even easier now. Neon, Revolut, Yuh etc. all let you buy the stock with just two clicks.
People discuss it, get FOMO, and buy.
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I was interested to buy the IPO to be able to sell it on the frenzy, but I guess IBKR had some limitations on who could participate even though they sent me an email on it.
But it would only have been a short term trade. These speculative companies are not for me.
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I hate the guy, but I think you may not be giving him enough credit in terms of his smarts. He’s a go getter, dreams big and absurd and often makes it happen by sheer force of will/personality. Or so it seems to me! Oh, and Charlie Munger and Buffett