Today's SpaceX closing price is 184.98. The weighted average price of shares purchased by investors in the public trading market after SpaceX's IPO is 181.7, meaning the profit margin has almost been wiped out. A large number of retail investors only got a few shares during the IPO subscription, which pushed up demand in the secondary market, causing the stock price to skyrocket and plummet in the short term. However, looking at the number of newly issued IPO shares (556 million shares), this portion of unrestricted circulating shares has already turned over nearly 3 times. In other words, the people trading in the secondary market have already changed hands several times; those still holding circulating shares at this moment are all losing money. Elon Musk's personal influence among retail investors is just too strong. Underwriters, distributors, and brokers made a killing in this epic IPO deal. The oversubscription ratio reflects the extreme crowding of the retail market for SpaceX's IPO issuance. After satisfying this speculative demand, it all depends on whether the "cornerstone investors" can hold on and not sell. At least in July, there’s still the opportunity for passive funds to enter and for Nasdaq inclusion. Time to consider dollar-cost averaging into puts.