Nervous About SpaceX's Astronomical Valuation? The Company That Fuels Its Rockets Is Trading at a Discount -- and Wall Street Says Buy
This stock isn't a moonshot bet like SpaceX. But it makes moonshots possible.
Nervous About SpaceX's Astronomical Valuation? The Company That Fuels Its Rockets Is Trading at a Discount -- and Wall Street Says Buy
Overview
With a full name of Space Exploration Technologies (NASDAQ: SPCX), the "X" in SpaceX is short for "exploration." However, it could stand for "extra-high valuation." SpaceX's IPO market cap of roughly $1.8 trillion was the biggest ever. Only days after its public listing, SpaceX ranks among the largest companies in the world based on market cap.
This IPO stock now trades well above the price targets even the most bullish Wall Street analysts set. It's understandable if many investors are nervous about SpaceX's astronomical valuation.
Details
There's good news if you want to profit from the space boom, though. The company that fuels SpaceX's rockets is trading at a discount to peers -- and Wall Street overwhelmingly views its stock as a "buy."
Source
Originally published at www.fool.com.
