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Elon Musk\u2019s SpaceX is many different things to many different people \u2014 but one thing that it definitely isn\u2019t is a get-rich-quick scheme.<\/p>\n
Since its debut on the public tickers back in early June, SpaceX shares have sunk from a high of over $225 to a dismal $110 today, as compounding failures<\/a> and overvaluation fears<\/a> take their toll. Overall, SpaceX is down nearly 30 percent compared to its opening stock price of $150 \u2014 and all those day-one rubes are now seeing red.<\/p>\n \u201cElon has ruined me,\u201d one Redditor posted<\/a> on r\/WallStreetBets, along with a screenshot showing a loss of nearly $455,000 CAD on thousands of SpaceX shares. \u201cHe was supposed to take us to Mars and burn short sellers. Still holding 7300 shares. Please Elon fly again.\u201d<\/p>\n On Musk\u2019s X-formerly-Twitter, investor\u2019s spirits, like his rockets, weren\u2019t any higher.<\/p>\n Under a post showing off SpaceX\u2019s Starship at sunset, dejected Musk acolytes moped about their fortunes, begging the company to get its act together.<\/p>\n \u201cIt sure would be cool if this stops crashing\u2026 30 percent short interest and down 40 percent on the month,\u201d one fanboy groused<\/a>. \u201cI believed in you and lost over 20k in a month. I really hope that it comes back.\u201d<\/p>\n On Thursday, when SpaceX announced<\/a> it was delaying the launch of Starship\u2019s thirteenth test flight by a day, commenters were quick to point out that the update came just minutes after US stock markets closed. (The stock continued sinking the next day, falling more than another 3 percent by press time.)<\/p>\n \u201cNotice they wait until market close now,\u201d one poster quipped<\/a>.<\/p>\n \u201cSure,\u201d said another user<\/a>, \u201cwait till market close to announce\u2026lol\u2026as if we didn\u2019t know what the weather was going to do hrs in advance.\u201d<\/p>\n With that major test now scheduled for Friday evening, it remains to be seen whether a successful test will be enough to win back investors. On the flipside, a high-profile failure now could severely compound the company\u2019s woes, putting SpaceX even further from the $2 trillion valuation<\/a> Musk has promised. Time will tell.<\/p>\n