Prediction: SpaceX Stock Is About to Sink Even More After Plunging Over 40%
Expect more volatility from this whipsawing IPO stock.
Overview
Space Exploration Technologies (NASDAQ: SPCX), more commonly known as SpaceX, burst onto the investing scene earlier this year in spectacular fashion. The space technology company founded by the world's richest person, Elon Musk, set the record for the largest IPO in history. SpaceX became the most talked-about stock on the planet.
However, the sizzle quickly fizzled. Over the last seven weeks, SpaceX's share price has plunged more than 40% from its peak in the immediate aftermath of its IPO. Is the worst over? I don't think so. Instead, I predict SpaceX stock is about to sink further.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.