Fantastic News for SpaceX Stock Investors!
It does come with several caveats.
Overview
Space Exploration Technologies (NASDAQ: SPCX) has had a volatile first month as a publicly traded company. Its share price rose to as much as $225, but as of writing, it has sunk back near its $135 IPO price, currently trading just $1 above it. Opinions on SpaceX's prospects are divided. The bulls will argue that, given its large addressable market and leadership in core markets, including space travel and satellite-based internet services, the stock could produce outstanding returns over the long run.
The bears will point out that SpaceX remains unprofitable, and its financial results and outlook hardly justify a $1.8 trillion valuation. Time will tell who is right, but recent news from the company was a bit of a win for the bulls. Let's look into these recent developments and what they could mean for the stock.
Image source: The Motley Fool.
Details
Source
Originally published at www.fool.com.