Backing Up Your Emergency Fund with Brokerage
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
13 min
1 speaker
3 chapters
transcribed 2 months ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
Hey, this is Allie, and thanks for listening to the show. Give us a five-star review where you listen and share this episode with someone who might need to hear it. Now, enjoy the show. Welcome back, ladies and gentlemen. You're listening to another edition of DIY Money. DIY Money. Logan. It feels like I haven't seen you in forever. It's been forever.
It's been a very long time.
I mean, in market years, I feel like it's been two to three years.
Yeah, I was looking at pictures of myself from like six months ago. Oh, my gosh.
What market context and recent volatility set the stage for this episode?
I got gray hair. It's not good. Check out YouTube if you want to see.
Oh, yeah. He looks old, old.
Ow!
So how have you been? I've been good. It's been crazy. It's been a very interesting few months. Of course, you picked the perfect time to retire at all-time market highs, and then it's been chaos since then, so it's been wonderful.
Well, that said, we're cutting this on, what, June 15th or 16th, and we're back to highs in a matter of days. But yeah, the volatility that we've seen in the marketplace has been fascinating, for sure.
At the same time, having things like SpaceX that have thrown all monkey wrenches into things and stuff.
You know, worthy to give an update on that because we did a special Back to the Classroom last week. Allie and I did. I thought it was good. Well, I just might have aired recently, but by the time this comes out, it will be a couple weeks. But at the time that we're cutting this, I think it's important to note the stock was public, came public at $135 per share. It was right in the middle of sort of the range that we had discussed. However, and I thought this was really fascinating, it only opened at $150. Right. I thought that was interesting. I thought because of the demand of the book, it would be opening quite a bit higher. It closed, I think, you know, that day at 159, 160 or something like that.
For all intents and purposes, it was a very positive, not crazy one way or the other, well-received IPO. The next few days, the stock ran considerably. I think ultimately people were like, wait, I can get this close to the opening print and so forth, ran up to 220 or 230 or something like that, and then subsequently has come back. I want to preface both the article that we wrote and the podcast, I suspect there'll be this back and forth with demand because of the addition to the NASDAQ 100, which is very unique. This is not a normal thing. And so there's going to be this demand. But if I'm not mistaken, lockups start to expire in August or so right around the corner. So I would suspect we would see some selling pressure into the summer and into the fall.
I told on the podcast, I said, I'm not going to be a buyer. And then when it was coming out, I thought, I'm going to buy one share. Like, I'm going to put in a limit order for one share because that's what you had to do. So I got my one share. And then on the pullback... Today, I bought a little bit more, in full disclosure. Now, not a big position. Like, I want to watch it. I'm an Elon fan. I'm a SpaceX fan. There is no one who knows whether valuation is justified here. None at all. Nobody knows that. But anyways, I thought it'd be good to give a little bit of an update.
No, I like it. I think it's fascinating. And no one knows because everything is a bet on the expectations of what this company can do. Like, when we saw it go over $210,000, Earlier this week, we basically had it go over the market cap of Amazon and then just briefly over the market cap of Microsoft. That's kind of crazy, right? That's unbelievable. These companies that have very long track records continue to build revenue, but it's the expectation and the forecast for the future that's the exciting thing for the markets right now. And that's what all these investors are trying to bet on for the future. I think it's going to go through a lot of ups and downs. I don't think you're going to see normal days in that stock.
I mean, it's gone up to basically the highs at 210, and now it's down like 14, 15% from there when we're cutting this.
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