SpaceX Is Already One of the World's 10 Most Valuable Companies. Here's Where the Stock Could Go From Here.
The largest IPO in history left the rocket and satellite-internet company trading at a price that is simply difficult to justify.
SpaceX Is Already One of the World's 10 Most Valuable Companies. Here's Where the Stock Could Go From Here.
Overview
SpaceX (NASDAQ: SPCX) completed the largest initial public offering (IPO) in history on June 12, initially raising about $75 billion, with proceeds later reaching $85.7 billion after underwriters exercised the greenshoe option. Shares priced at $135, opened higher, and closed their first day near $161 -- a gain of about 19%. And they've kept climbing. As of this writing, the stock trades near $188, up about 17% Monday.
That run has handed Elon Musk's rocket and satellite-internet company a market value of about $2.5 trillion -- enough to rank it among the 10 most valuable companies in the world, ahead of Tesla and behind only a handful of larger technology companies. For a business that lost money last year, that is an extraordinary price.
Details
Here's a closer look at the case for buying SpaceX after its record debut, as well as the reasons for caution.
Source
Originally published at www.fool.com.
