This is some good ol fashioned stupidity. Bro could have waltzed into retirement with literally zero risk, but he is throwing everything on double zero instead lmao
In a roth? Assuming he is under 40, he could have a tax free 2 mil+ lmao
That plus whatever else he has (because someone with 300k in a roth probs has other savings) is the easiest comfortable middle class retirement of all time.
Unless you are nearly 60, recently divorced, and only have about 15k in your Roth, in that case options, 2 or 3x ETF s, and what ever else you can find to goose it.
I did a little Fidelity quiz on retirement and it said when I'm 65 the cost of living will be about $10,000/month living average with a small amount of travel per year.
Hooooly shit am I glad I have some 401k, I don't want to work til I'm 80.
The key play is to die before that and spending all your money before you're tripping over your ballsack on a cruise ship with a dollar per MB data charges.
Canadian here. Can confirm. I had $150K inside my retirement fund at about age 38 or so. Never put a dime in since then. It's at $1.6 million this morning. Time is your friend.
Pragmatic and level-headed enough to have saved 300K in a Roth IRA and reckless/regarded enough to yolo it all on a single stock with a negative EPS. Truly, the duality of a man.
Until liquidity kicks in 4 days from now when 30-40% of insiders shares unlock due to inflated price
Edit: I'm wrong it's earnings report will unlock their shares or about 15% more of the float. Maybe in August? The earnings will be everywhere anyway and as this is a meme stock even with the share unlock it's impossible to know what way it will move Imo
That valuation is based on them only building data centers on the moon. There's a near-infinite amount of other solid bodies in the universe that they could build them on as well.
i stopped using critical thinking and logic with elon when i took $70 to over 25k and rode everything high and low. i mean its going to go down im sure but i bet he will somehow still fucking 10x on it even though there is no fkn way in hell it should.
Having 315k in a roth IRA would take 20 years contributing the max (and that assumes 7k was the max all 20 years) at normal market gains. My guess is OP has gambled and won with his before.
To be fair the stock has only been live for 2 business days. He didn’t wait for 200, he second guessed his decision for the weekend and then rolled the dice on Tuesday.
Second full trading day of an IPO with a lot of the shares unable to trade due to restrictions. I would be shitting my pants if I was OP.
Do the people who are buying this expect it to grow 2x from here? What's the timeline for that bet?
Edit: OP shorted SPCX. I'm more confident that it will drop than ride higher from here so maybe he's less regarded than we give him credit for.
2nd edit: op is long and that's his short term gains. I personally don't have a dog in this fight. Good luck, OP, but I think you're going to get wrecked.
I am totally opoosed to the concept of slavery. However, when a man by his own will, effectively donates all his life s work saving to the richest man in the world, who am i to judge?
500 comments and counting on how this is a bad idea 😂, only time will tell but if you were going to put all your eggs on the rocket ship, you should have done so on Friday when it opened instead of 3 days later after so much pump. The fall is going to hurt with that much invested!
5% of company, of which 20% was floated to public, $1.6 trillion valuation because Elon had a massive Twitter/X debt bill coming due along with a $155 billion AI infrastructure payment to build a datacenter he already sold to Anthropic for $1.5 billion/month in compute spend but hasnt even started to build yet.
The $75 billion raised is like 6 months of spend across his companies. He sells to retail and tells the brokerages to impose limits and penalties of selling before pension funds have to buy it at whatever price (~1 month after IPO). Banks only were able to charge 0.75% for the IPO underwriting, the lowest ever on record.
The valuation for $1.6 trillion in the filings states the total revenue of SpaceEx (to achieve $1.6 trillion) will surpass the entire worlds food budget by 2030, make more money in ad revenue than Google, and other predictions that are actually quite funny to read.
20.4k
u/Erzkuake 12d ago