Is SpaceX Under $160 a Bargain or a Trap?
SpaceX stock has been volatile following its public debut. Should investors be buying now?
Overview
Space Exploration Technologies (NASDAQ: SPCX), or SpaceX, had its initial public offering (IPO) on June 12 and set a record for the largest-ever public debut, raising $85.7 billion in cash for the company from the sale of an initial batch of stock priced at $135 per share that valued the company at $1.77 trillion. While the stock's price has seen significant volatility since then, it also trades well above its initial listing price but roughly where it stood at the market close on the day of its public debut.
As of this writing, SpaceX stock is up 16.7% from its listing price but down 2.1% from market close on its first day of trading. With the stock trading at $157.54 per share as of market close on July 1, it also carries a market capitalization of roughly $2.07 trillion as of this writing.
Details
Is SpaceX a great buy trading under $160 per share, or should investors wait for a substantial pullback?
Source
Originally published at www.fool.com.