This is a specific Elon’s retailers 🪤 trap. Elon Musk had tasted yummy 😋 pudding from retailers (I don’t call these people investors because they’re not. Just blind followers.), Elon thinks this will be a better way to milk those same followers. If he could attract more into his universe, why not? I see similarities between this Elon and Trump’s behaviour. For Trump, it is tax the allies and respect his foes. For Elon, it’s more ruthless. Milk as many faithful followers as possible to enrich himself. That is exactly why he has set the absolute IPO price at an affordable $135. Many retailers don’t really understand valuation. What they see is just the absolute price and thought they have bought something super cheap! Thinking that this would be another $10,000 stock in the making… the banks are not helping (of course not, they benefit from the deal), using 10 years “prediction” valuation. Might as well buy lotto or Toto. Higher winning chances… this won’t end well. [Facepalm][Spurting
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