SpaceX Climbed Nearly 20% in Its First Day of Trading. Here's Where the Stock Price Will Be in 3 Months, According to History.
The Elon Musk-led company has attracted investors' attention in recent days.
SpaceX Climbed Nearly 20% in Its First Day of Trading. Here's Where the Stock Price Will Be in 3 Months, According to History.
Overview
SpaceX (NASDAQ: SPCX) advanced more than 19% on Friday, its first day of trading -- and reached a market value of $2.1 trillion. This immediately puts it in the league of the world's biggest tech companies, such as Apple and Microsoft, in the so-called "trillion-dollar" club. SpaceX set its IPO price at $135, the stock opened at $150, and it closed at more than $160. The IPO offers SpaceX a spot in the record books, as it raised $75 billion for the biggest IPO ever.
It isn't uncommon for a stock to soar on its IPO day, and we saw this recently with names such as Cerebras Systems surging 68% on its debut last month and biotech Parabilis Medicines advancing 58% during its first trading day last week. So now, the natural question is: How will SpaceX stock perform in the weeks and months to come? A look at history suggests where the stock price might be in three months...
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Originally published at www.fool.com.
