Musk threatened the shorts (a third of the free float is currently shorted, that's a huge amount), promising to punish everyone once the earnings dropped. Started talking up AI satellites and the friendship with Nvidia.
In the end, it didn't work.
Things at SpaceX are getting worse by the week.
They've now reached the ballpark of the IPO price, $115 (at one point dropped as low as $105). It went out at $135 (the upper bound).
The nuance with this company is that even $20 a share would be a perfectly fair price.
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