Opinion: SpaceX stock decline fuels criticism of Musk's business model as unsustainable
The article is a critical opinion piece arguing that Elon Musk's business empire, particularly SpaceX and Tesla, operates like a Ponzi scheme sustained by government subsidies, regulatory favors, and retail investor hype. It points to SpaceX's declining stock price after its Nasdaq-100 debut as evidence of overvaluation, and claims Musk has forced American taxpayers and investors to prop up his ventures through political connections and market manipulation.
Key quotes
SpaceX's decline disappointed investors who wagered that inclus...
Elon Musk devised the world's biggest Ponzi scheme — and forced Americans to buy in
From the article
Friends,This week, on their first day of trading on the Nasdaq-100 stock index, SpaceX’s shares dropped 6.8% to $149.47. That’s above their IPO price of $135, but down from a peak above $200, and below the $150 price where shares began trading on June 12.
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