SPCX: Has the exit liquidity realised the part they were playing in the SPCX IPOwned?

Investor summaryBearish

The author mocks retail investors who bought the SPCX IPO, calling them exit liquidity for insiders.

Bear points

Retail investors are acting as exit liquidity for early insiders.
The IPO was likely a trap to cash out early investors at the expense of new buyers.

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