cross-posted from: https://piefed.world/c/tech/p/1160169/a-danish-pension-fund-has-blacklisted-spacex-calling-it-grossly-overvalued-with-catastro
AkademikerPension will not buy SpaceX shares at any price near the $1.8 trillion IPO target, saying the company cannot reasonably be worth more than $1 trillion and that Musk’s voting control makes it effectively uninvestable
Americans with 401k are about to get screwed when this IPOs. They’re wanting to change the index rules. That means every index will have to include this rotten piece of shit. Most 401ks would be affected.
The rule changes include changing how long after an IPO a stock can be included in an index fund Right now it’s a year. They want it to be weeks.This makes me feel better about exchanging all US index funds in my 401k into International index funds. I may regret this because markets can be irrational for a long time, but it certainly feels like the US is circling the drain. The fallout will impact International of course, but what else is there to invest in?
I’m happy for you. Sadly, my employer retirement plan does not allow me to select my investments. Only target date funds which track the total world stock market. At least it’s diversified.
You can go for an equal weight s&p to avoid the oversized influence of the mag 7 and the other oversized bubble stocks.
Good!
That’s because it bloody is.
They’ve got one business unit making money (and to be fair, that business unit is making crazy margins) - Starlink - and one business that could be profitable if it turn down the starship R&D. But it’s so crazily leaning into “AI in space” for its insane multiples - and leaning in to achieving a dominant position there, when both China, Japan and other US companies are prepping reusable launch vehicles.
I wouldn’t touch it with a barge pole and if I could blacklist it in my passive fund I would. That said mine follows the FTSE Russel Global index, which only rebalances every 6 months and with much stricter requirements than the fast-follow Nasdaq funds, so by the time any passive investment of mine jumps on SpaceX its real value will be much more apparent.
You forgot about the absolute piece of shit log that they threw in there containing Xitter just to burn off the profits.
When the crash finally comes, whoever goes all in on short sells in Tesla, Palantir, and SpaceX will be so fucking rich.
Based.
Oh, this could be fun. I mean, the entire market is about to collapse when AI companies can’t deliver and this might be the first card to fall.
Me, looking around at every other company in existence: uhh… guys…
