History Says You Can Get a Better Deal on SpaceX Stock If You Wait This Long
You may want to put your initial instinct to buy SpaceX stock on hold until next summer.
History Says You Can Get a Better Deal on SpaceX Stock If You Wait This Long
Overview
Elon Musk's Space Exploration Technologies (NASDAQ: SPCX), or SpaceX, gained about 20% on its first day of trading on Friday, June 12, and continued climbing higher in the days after becoming a publicly traded company, as of this writing.
The result has pushed SpaceX's valuation above $2.5 trillion and made Musk the world's first trillionaire. Figures that high are difficult to comprehend, even for someone who writes about financial topics every day.
Details
But despite SpaceX's initial success, history is not kind to blockbuster initial public offerings (IPOs). In fact, those that have huge gains in the first week of their IPO rarely hang on to those gains a year later. Here's why it might be better to wait out the buying frenzy right now if you want to own SpaceX stock.
Source
Originally published at www.fool.com.
