It mostly means the news is on autopilot and refuses to do real analysis and everythings just a horse race of feelings rather than real critical anlysis.
It was an odd way of saying the average post-IPO buyer was breaking even and then they went and updated the prices at EoD yesterday without really changing the title and it become a bit silly. Then they didn't update it again this morning but it was not at all the case, by lunch very much actually the case, and currently back to where it was at close yesterday so the article is as confusing as it was last night.
Not really the type of article that was worth updating or sharing any time after it was originally written.
The SpaceX IPO was a textbook crypto scam ICO. Launch with a huge media frenzy, super low float, "airdrop" to retail, etc.
We all know from previous token launches that the next few years will be a slow decline in price with just enough occasional bounces to keep up the hopes of the bag-holders.
It's a fantasy market. You shouldn't be able to make hundreds of billions only because the stock market is full of illiterate optimists. I don't believe in the Wisdom of the Crowd. This is the political populism turned financial. People abandoned cryptocurrency (at least one positive thing), precious metals, and fundamentals-based stocks to free up funds for overhyped IPOs. This really removes any incentives to start a legit business, as it's much more profitable to launch a bubble. I'm not saying SpaceX isn't a real business, but it can't be worth more than the combined economies of many countries, for example. Just convert a few trillion dollars into Albanian or Greek islands, for example. It's crazy, really! And is, for example, Anthropic worth over a trillion dollars only because it's just less than 6 months ahead of the Chinese?! This lead will not last forever, and it will only get shorter.
It’s a very common metric in finance (pronounced vee-wop), usually measured over a single day (though as in this case, it can be measured over multiple days). It represents the closest true answer to the question “what was such and such stock trading at on this day or across these days.” (Averaging closing prices is less representative, though fine for back-of-the-envelope work.)
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