Here's the 1 Thing I'd Wait to See Before Buying SpaceX Stock.
SpaceX must prove its AI spending is worth the near-term pain.
Overview
SpaceX (NASDAQ: SPCX) went public at $135 per share on June 12, reached a record high of $211.39 four days later, but now trades at about $160. The aerospace and AI company initially attracted significant attention from growth-oriented investors. Still, concerns about its capital-intensive expansion plans, steep losses, and sky-high valuation weighed on its stock.
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SpaceX has plenty of irons in the fire. Its Starlink satellite internet service is growing rapidly, and its recent acquisition of T-Mobile's 800 MHz spectrum could turn it into a mobile powerhouse. Its namesake spacecraft business could expand significantly as it ramps up Starship launches, the largest rocket ever built. Its fragmented AI business (which includes X, Grok, and Cursor) could also flourish as it launches new products and services.
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Originally published at www.fool.com.