0x16dc9B3a1B4f2F3d6928E06421302e939169b6D1
Arb: 0xC2BE7E20559d3EF0eEDf73bd6b53a0834E02DebB 0xa6831e2c3Cf725f32c509F002316429f18092278 0xA25A65230278382F0a209561081EB5Ae66E05eFE
They are bridging to SOL with a portion of the funds EtXHezXDsK3X7qqCR6ZeDPTzVpxbJJRwn5r3YQQqDMCh and swapped the USDC for Jupiter Lend USDC.
I'm trying to understand how retail doesn't get hosed in the short term on the SpaceX IPO. On June 12th its float is expected to be 5% of total shares outstanding (worse than a bundled shitcoin), with a price to rev of 100x (that's 10x the average of FAANG) at a valuation of $1.75 trillion.
To compound everything, a large portion of shares begin vesting 60 days after the IPO, and after 15 days it's expected to be added to all the major indices.
The only positive outcome short-term outcome I can see for PA is if SpaceX becomes another cult stock where shorts habitually get squeezed. However, I would think the major market participants have done enough DD to account for that possibility.
Hopefully retail doesn't get stuck holding the bag again.
@urmom_eth@GetPaidMore They want the passive flows for VC and institutional investors exit liquidity. It wouldn't surprise me pre-IPO holders are selling a lot of covered calls and shorting the stock as a hedge.