Elon Musk Admits There Is Likely to Be Short-Term Pain for SpaceX Investors
SpaceX's long-term vision will inevitably get in the way of the company's ability to hit short-term earnings expectations from Wall Street, according to its CEO.
Overview
When Space Exploration Technologies Corp (NASDAQ: SPCX), more commonly known as SpaceX, went public in June, much of the excitement centered on its future growth opportunities. Growth investors were optimistic about the company's potential to send people to Mars and revolutionize space travel and the tech sector as a whole by also putting data centers into space.
SpaceX's focus is on the long term, and it's those growth opportunities that may lead to significant payoffs for investors in the end. CEO Elon Musk's grand visions helped make Tesla a leader in the electric vehicle market. The hope is that Musk can work his magic once again, make SpaceX profitable, and create an even larger, more valuable business than it is today.
Details
The problem, however, he warns, is that investors should brace for short-term pain.
Source
Originally published at www.fool.com.