Prediction: SpaceX Will Reach This Price in July (Hint: It's Going to Plummet)
SpaceX just completed the largest IPO in history, but a sell-off could be right around the corner.
Prediction: SpaceX Will Reach This Price in July (Hint: It's Going to Plummet)
Overview
Elon Musk's Space Exploration Technologies (NASDAQ: SPCX) went public on June 12. In the days since, SpaceX stock has given investors a textbook example of what happens when a widely anticipated initial public offering collides with the laws of supply and demand.
SpaceX priced its shares at $135 and had a goal of raising $75 billion from the offering. The stock opened its first session on the Nasdaq at $150 and closed that day around $161. By June 16, it had surged to an intraday peak of $225.64.
Details
Eventually, though, that early excitement cooled, and SpaceX stock started to give back its gains. By Tuesday morning, it had even moved briefly below that initial $150 price, but by mid-afternoon, shares were hovering around $161 again.
Source
Originally published at www.fool.com.
