A cynic might wonder given Musk's implausible trajectory and questionable associations whether the X project is primarily a grift and/or money laundering project that happens to do high-profile tech, and the primary aim is to pump the stock and hope some other opportunity to pump it further arrives in the future.

Otherwise a dump works too. There's plenty of money to be made from carefully timed shorting.

The entire AI field has been plagued by circular financing deals, so this is not new. But it's new in aerospace, and the market institutions appear complicit.

Otherwise, why is this IPO getting such unique treatment on such flimsy fundamentals?