After its sensational first three days as a public company, SpaceX (SPCX, dur-hay) has been flopping around like a fish on the floor of a bass boat. I daresay that, before this month is over, this sucker is going to be trading at sub-IPO prices.
Before it went public, I suggested that SpaceX might well follow the path of Cerebras, which was the most recent white-hot public offering. Here is the updated chart of CBRS, which should send chills down the spine of Mr. Musk.
In fairness, however, Cerebras is a company very much involved in:
- Semiconductors, and
- Artificial intelligence
Which are two business sectors that have been shunned for years and have received absolutely zero institutional support from the banks, so it’s understandable that the’d be having such a rough time of it.
