Earlier this month, Elon Musk’s rocket company, SpaceX (SPCX), which has also pitched itself as an artificial intelligence (AI) play, went public. It was the biggest IPO ever, and the post-listing rally made Musk the world’s first trillionaire.
The euphoria has since cooled off, and SPCX stock has plunged from its highs. Not only has Musk lost his trillionaire status, but many investors, particularly his fans who bought the shares post-listing in a FOMO trade, have lost money, at least on paper.
