$SpaceX(SPCX)$ This is what a SpaceX IPO would likely look like: On day one, the stock price surges. Retail investors rush in to buy, while insiders take the opportunity to sell. This isn't a prediction—it's the pattern seen in virtually every major IPO in history. Over the next six months, the stock gradually declines, while retail investors continue holding on and hoping for a rebound. Eventually, the hype fades, and everyone who bought on the first day is sitting on losses. At that point, institutional investors quietly begin accumulating shares at the prices they actually wanted.