Here's What a $500 Investment in SpaceX Stock Could Be Worth by 2030
The stock has taken investors on a roller-coaster ride in the months since its IPO, but now it's back at a price close to where it began its first day of trading.
Overview
Love him or hate him, Elon Musk is a corporate leader worth watching. And one of the companies in his catalog, Space Exploration Technologies (NASDAQ: SPCX), recently set a new record for the biggest IPO in history, raising an eye-popping $75 billion in capital and starting its run on the market with a market cap of $1.77 trillion. The funds that the technology and industrial giant raised will go in part toward financing its aggressive expansion of its artificial intelligence (AI) computing capacity.
Shareholders will be keenly watching for evidence that SpaceX's AI expansion will lead to returns big enough to justify the company's already lofty valuation. Let's discuss the pros and cons of the stock, and consider what a $500 investment might be worth by the end of the decade.
Details
At the time of the IPO in early June, SpaceX looked like a bad investment because of its sky-high valuation, as well as the increasing maturity of its space industrial business, which focuses on transporting payloads to space, and its connectivity unit, which offers satellite broadband service through Starlink. However, now that the dust has settled, the situation looks better.
Source
Originally published at www.fool.com.