Note that this is the NASDAQ. They just changed the rules, specifically for spacex and upcoming AI IPOs that make it so they can be added to stock indexes (most of what your 401k is made of, probably) after 2 weeks instead of a year after their IPO. So we get initial IPO, shoots up, then drops to get more in line with expectations, but then after that, the stock is added to indexes, which was an expected massive bump on the stock. At this point, guys who floated Elon buying out twitter, among other things, who were given ownership that turned into stock at the IPO are cashing out.
I hate that we know it’s all happening and we’ll just let them do it anyway.
Note that this is the NASDAQ. They just changed the rules, specifically for spacex and upcoming AI IPOs that make it so they can be added to stock indexes (most of what your 401k is made of, probably) after 2 weeks instead of a year after their IPO. So we get initial IPO, shoots up, then drops to get more in line with expectations, but then after that, the stock is added to indexes, which was an expected massive bump on the stock. At this point, guys who floated Elon buying out twitter, among other things, who were given ownership that turned into stock at the IPO are cashing out.
I hate that we know it’s all happening and we’ll just let them do it anyway.