SpaceX is IPO-ing this week, in case you haven't heard. LOL.
Don't buy it. Not now.
I'd like to point you to a very different company that IPO'd back in March 2021 that is now showing the proper time to buy an IPO.
Here's a weekly chart of Oscar Health $OSCR:
Notice during the first week of trading, $OSCR traded as high as $37? Twenty-one months later, the stock bottomed at $2.05 per share. That's a 94% drop from the first week of trading.
Good job, IPO bankers! Thank you for enabling your VC pals to unload their hot garbage on public investors.
Fast forward three and half years and it appears Oscar Health may finally be growing into its valuation, as today its stock is printing the highest prices since the bottom, breaking out of a two year base that saw the stuck consolidating between $12 and $23 per share. Blue skies back to all time highs!
THIS is the time to buy a stock, post-IPO.
Don't be a bagholder in SpaceX. Wait for it to base. Wait for a consolidation. Then wait for price action to prove there are more buyers then sellers.
