SpaceX opened up 22 percent today. Tim Knight asked for 1,000 shares. He got 48. He sold all of them immediately for about $1,300 and moved on.
The forced buying from Russell and NASDAQ funds runs for two weeks. That exhausts itself right around the same time retail gets penalty-free selling. Tim does not expect $200 or $300. The IPO incentive is gone. You can only IPO once. Meanwhile everything else with a rocket engine is down: ASTS down 15 percent, LUNR down 13 percent. Virgin Galactic is giving back its absurd mistype rally. The broader market still has broken trend lines, price gaps, and overhead supply. Carvana completing a diamond top. Lennar down 4 percent after earnings.
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Chapters
0:00 SpaceX up 22 percent on IPO day
1:03 Tim got...