Does a Lower Stock Price and New Contracts Make SpaceX Stock a Buy?
Investors can now buy SpaceX shares at the same price as on its IPO day. Should they?
Does a Lower Stock Price and New Contracts Make SpaceX Stock a Buy?
Overview
In many ways, the public debut of Space Exploration Technologies Corp. (NASDAQ:SPCX), or SpaceX, was historic. The launch was undoubtedly the biggest initial public offering (IPO) of all time. The company raised $85.7 billion in all, and demand for the stock pushed its market cap to a record-setting $2 trillion.
Despite the frenzy, some investors stayed on the sidelines, as SpaceX's valuation soared into the stratosphere. At one point last week, the company's market cap surged to more than $2.8 trillion, pushing its valuation to roughly 150 times sales.
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Originally published at www.fool.com.
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