Consumer Spending Is Slowing and SpaceX Is Burning Billions. Is Now Really the Right Time to Buy SPCX?
Slower consumer spending could negatively impact the company's only profitable business.
Overview
Space Exploration Technologies (NASDAQ: SPCX) had no shortage of buyers during its first days on the market. It surged from its first-day open of $150 on June 12 to over $225 on June 16. SpaceX's share price has fallen almost as quickly, back to $153 by the week ending June 26, but it's still one of the most popular stocks by trading volume.
Despite all the excitement, buying SpaceX stock right now is a risky move, and not just because of its staggering valuation.
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Originally published at www.fool.com.
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