I'd Wait 90 Days Before Buying More SpaceX Stock. Here's Why.
There's no need to rush into the stock now for long-term investors.
Overview
No stock has been discussed as much over the past few weeks as Space Exploration Technologies (NASDAQ: SPCX), or SpaceX, as the company set an initial public offering (IPO) record, raising $75 billion and being valued at $1.77 trillion.
The stock experienced a nice run-up in its first few trading days but has since been on a downward trajectory. As of market close on June 23, SpaceX's stock was down 3% since its IPO. Many investors expected the volatility it has been experiencing, but it may be sooner than expected.
Details
Regardless of how SpaceX pans out over the next few weeks, I wouldn't consider investing in SpaceX (or adding more shares) for another 90 days. Here's why.
Source
Originally published at www.fool.com.