A crypto trader’s controversial post on
#X projecting a potential trend for SpaceX (SPCX) has triggered a debate. The trader compared SPCX’s IPO surge to Tesla’s (TSLA) historical behavior, suggesting a repeat of the same trend pattern. DigitalCurrencies
The Largest Public IPO Debut in History
SpaceX’s IPO became the largest public debut in history after a $1.77 trillion valuation. It dwarfed Tesla, which debuted in June 2010 at a $1.7 billion valuation.
The trader’s post suggested an element of manipulation. Using a side-by-side 4-hour chart video, he highlighted an initial pump in TSLA’s price after debuting in 2010, comparing it with SPCX’s surge to $229 hours after launching.
Tesla’s history shows it pumped 41% on the first day before facing multiple 30-70% drawdowns in subsequent months and years. Nonetheless, it delivered over 4,000% returns in the long term for holders who endured volatility. The crypto trader suggested Elon Musk may repeat the same playbook, implying a near-term pullback after the initial hype, but substantial returns for investors who will stay for the long run. DigitalCurrencies
Differences Between SpaceX and Tesla IPO
Most respondents to the post disagreed with the trader, citing varying circumstances surrounding both products. One such respondent noted that Tesla had not yet released its Model S during the referenced period, unlike SpaceX, which has already delivered more mass to orbit than every other participant combined. According to him, SpaceX’s IPO is like Tesla’s IPO with 99% market share.
Another respondent noted that Tesla faced competition during its IPO and was disrupting an established automobile market. Meanwhile, SpaceX has zero competition and is creating an entirely new market. Notably, the majority of respondents disagreed with the trader, expressing optimism about SpaceX’s value and sustainability.
Although both Tesla and SpaceX are Elon Musk’s ideas, the products exhibit notable market differences, including contrasting valuation scales, a wide gap in capitalization, varying investor expectations, and more. However, it is worth noting that the trader’s post and the responses reflect individual opinions, which do not ultimately determine the outcome of speculative markets, such as the Tesla and SpaceX IPOs. Cryptocurrencyprice analysis