Mark Your Calendar: SpaceX Stock Could Look Very Different After Earnings
Expect some big reveals in late July or early August.
Mark Your Calendar: SpaceX Stock Could Look Very Different After Earnings
Overview
The Space Explorations Technology Corp. (NASDAQ: SPCX) IPO has already exceeded many analyst expectations. Consider the warnings from Morningstar analysts on June 9 -- days before the record-breaking IPO.
"The SpaceX IPO is shaping up to be one of the largest and most closely watched market debuts in recent memory," the Morningstar report began. "The valuation, however, deserves more careful scrutiny."
Details
After an independent analysis, Morningstar concluded that SpaceX's current business should only be valued at $780 billion -- less than one-third of its current market cap. "We think the company has been significantly overvalued and investors will have opportunities to buy the stock at more attractive levels after the IPO," its report concluded.
Source
Originally published at www.fool.com.
