As Elon Musk's SpaceX and Tesla Stocks Continue to Fall, Is It Time to Buy the Stocks on the Dip?
Here's why both Elon Musk-backed stocks could have plenty of downside ahead.
Overview
It's been a tough summer for the stocks of Elon Musk-backed Space Exploration Technologies (NASDAQ: SPCX), also known as SpaceX, and Tesla (NASDAQ: TSLA), which have both recently been in free fall. However, despite their dips, I think both stocks have a lot further to fall.
Let's dig into why I think both stocks have considerable downside from here.
Details
After soaring following its June initial public offering (IPO), SpaceX shares quickly reversed course and have been falling ever since. The initial rise in the stock was largely supported by the company selling only a small percentage of its shares at the public debut and by the excitement over Musk's vision for the company's future.
Source
Originally published at www.fool.com.