Did You Miss Out on the SpaceX IPO? Here Are 2 Better Stocks to Buy Instead
Amazon and Alphabet look like much better buys today.
Did You Miss Out on the SpaceX IPO? Here Are 2 Better Stocks to Buy Instead
Overview
While many retail investors got allocations of Space Exploration Technologies (NASDAQ: SPCX) when the stock IPO'd, others were left out. However, if you missed the IPO, I wouldn't be chasing the stock, as I think there are better companies to buy pursuing similar objectives.
SpaceX, as it is better known, operates three primary businesses. The first is its reusable rocket business, but this isn't why the company closed its first day of trading with a $2.1 trillion market cap. This is a solid business, but it's more of a launching pad (pun intended) for its other businesses. SpaceX's Starlink satellite internet service is its profit center. Once again, this is a nice business, but certainly not a trillion-dollar one.
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Originally published at www.fool.com.
