Could $10,000 Invested in SpaceX Make You a Millionaire?
SpaceX recently completed a record IPO.
Overview
Space Exploration Technologies (NASDAQ: SPCX) has many investors dreaming of fantastic gains -- with their investments even potentially turning them into millionaires. Why such excitement? SpaceX has set out game-changing goals such as developing data centers in orbit and colonizing Mars, and if the company achieves them, the awards could be significant. And at the driver's seat sits founder Elon Musk, known for his ambitious nature and focus on innovation.
This package has stirred up excitement in the investment community and led to retail and professional investors rushing to get in on the stock. The IPO, the world's biggest as it raised more than $85 billion, was oversubscribed, and investors didn't hesitate to hit the buy button in the first few days of trading, too. SpaceX stock soared 67% from its IPO price to a peak of $225 on June 16.
Details
In recent days, though, investors have grown more hesitant, and the stock has fallen below its IPO price. Could $10,000 invested in SpaceX, now trading at a low, make you a millionaire? Let's find out.
Source
Originally published at www.fool.com.