Prediction: SpaceX Stock Will be Worth This Much in 1 Year
Elon Musk's space transportation company is loaded with potential, but its sky-high valuation leaves little room for upside in the near term.
Overview
Space Exploration Technologies (NASDAQ: SPCX) was founded in 2012 by Elon Musk, who wanted to drive down the cost of space transportation. The company went on to expand into the satellite internet connectivity and artificial intelligence (AI) industries, and then went public this past June.
SpaceX stock quickly soared to a peak of $225 following its initial public offering (IPO), but it has since declined by 34% to $148.68 (at the close of trading last Friday, Sept. 25). Despite the company's incredible growth potential, it's pulling in more sellers than buyers right now because of its sky-high valuation.
Details
Here's where I predict the stock will be in one year.
Source
Originally published at www.fool.com.