Here's How Much Upside Is Left in SpaceX Stock at Its IPO Price, According to an Analyst
SpaceX says its addressable market is massive, suggesting a significant opportunity for the business.
Overview
SpaceX (NASDAQ: SPCX) will raise a whopping $75 billion from its public market debut at $135 per share, making it the largest IPO in history. Even with that already huge valuation, many investors expect the stock price to climb quickly. Some see a quick first-day pop in the IPO price, while others expect SpaceX to be a great long-term investment.
In its Securities and Exchange Commission registration filing, SpaceX estimated a total addressable market of $28.5 trillion for its various businesses. If that number's taken at face value, there's a ton of upside potential for the stock, even at a value of about $1.77 trillion at its IPO. But that requires SpaceX to rapidly develop its technology and capture a share of those markets. Here's how much upside one analyst realistically sees for the stock.
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Originally published at www.fool.com.