SpaceX Has Tumbled 27% From Its Recent Peak. Time to Buy the Dip?
Should investors pounce on SpaceX stock following its recent pullback?
Overview
Space Exploration Technologies (NASDAQ: SPCX), or SpaceX, roared out of the gate following its initial public offering on June 12, reaching an intraday high of roughly $225.64 per share on June 16. As of this writing, the company's share price is down roughly 27% from that high point.
SpaceX has leading positions in rocket-launching technologies and satellite internet and mobile services, and it appears to be in the early stages of building a top artificial intelligence (AI) services business. Should investors buy the stock following its substantial valuation pullback?
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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.