Yes, thank you. The news story here is that it slipped below IPO price during intraday trading. In a perfect world, IPO price should equal the fair value; in our world, there are random-walk price variances moment to moment; in synthesis, briefly dipping below IPO price (and not even at close/open!) is not evidence of any wrongdoing.
I was responding to the person pointing to this as confirmation of the long-running social-media-populist narrative surrounding this IPO. I consider that confirmation bias. I was not responding to the narrative itself, on which my only positions are: a prior against social media populism, a prior towards our financial institutions, a prior against trusting Musk, and a prior against trusting our current governance.
I was responding to the person pointing to this as confirmation of the long-running social-media-populist narrative surrounding this IPO. I consider that confirmation bias. I was not responding to the narrative itself, on which my only positions are: a prior against social media populism, a prior towards our financial institutions, a prior against trusting Musk, and a prior against trusting our current governance.