r/stocks
When to buy SpaceX
Author seeks advice on timing a SpaceX investment, wary of IPO hype and citing past long-term holding mistakes with Roblox.
- IPO might involve a 'pump and dump' scenario with crazy initial valuations.
- Past experiences with similar long-term holds like Roblox turned out poorly.
First, I’m not dumping my life’s savings into this IPO, and I’m not a huge fan of Musk to begin with. I’m just thinking as a long term investment, is it a bad idea to buy shares prior to the IPO?
I’m hearing a lot of people saying it’s going to crash, and I’m not interested in a “pump/dump” scenario, so I wanted to get opinions of people looking at this as a long term investment. I can’t imagine SpaceX being a bad place to park some money if I’m planning to hold it for awhile, but I also thought the same thing about AirBnb and Roblox.
I’m thinking skip the IPO and waiting, but if it starts at $135 with a crazy valuation, how low are you folks thinking it should drop before it looks attractive?
I’m a chef - I know a lot about cooking pasta and baking bread, but investing certainly isn’t my thing. I consistently beat the S&P as well as Nasdaq but I’m not looking to go backwards.
And as many times as I’ve seen “bro, don’t look for good advice on Reddit,” some of my most profitable trades came from reading posts on this sub. Someone suggested NBIS a while back and I bought a bunch when it was $15. Someone else suggested SNDK and that worked out pretty well also - so I’m thinking everyone here isn’t a complete idiot.
Anyway, I’d love to hear some thoughts. I was thinking about putting in an order to buy at $60 if it drops that low, just wondering if anyone else has some decent suggestions. Thanks!