Elon Musk's SpaceX Stock Just Closed Above Its $135 IPO Price for the First Time in Weeks. Is the Rebound a Buy Signal?
The company's struggling shares are launching back into orbit.
Overview
Shares of Space Exploration Technologies (NASDAQ: SPCX), better known as SpaceX, have experienced a volatile journey since debuting as the biggest IPO in Wall Street history. When initial excitement faded for the company's June 12 public debut, the stock fell into a tailspin.
The share price changed course after Elon Musk's company reported second-quarter earnings on Aug. 4. By Aug. 12, SpaceX stock was up nearly 40% from the low of $104.83 reached the day before earnings. As of Aug. 17, it's back above the official IPO pricing of $135.
Details
The recovery is a promising sign, but does it mean now is the time to buy? To answer that question, here's a deeper dive into the company Musk controls with over 80% of the voting power.
Source
Originally published at www.fool.com.
Related Articles
- Satya Nadella Said Microsoft's Own AI Chips Are Driving Up to 40% Efficiency Gains Over Reliance on OpenAI. Here's Why That Matters for Investors.
- Trump holds off on new 50% tariffs for Canadian goods
- Sandisk Is Up More Than 35-Fold in a Year and Sits Nearly a Third Below Its Peak. History Says What Comes Next.