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Veteran investor George Noble didn’t mince words when SpaceX (SPCX) debuted on the public market. He argued that the SPCX IPO was “designed to separate retail investors from their money,” a warning that quickly spread across financial social media as investors rushed into one of the year's most anticipated listings.
The timing of that comment has become difficult to ignore. After an explosive post-IPO rally, SpaceX shares have surrendered much of those gains, leaving investors debating whether the early excitement got too far ahead of the company's fundamentals.
