SpaceX Is Outperforming Everything. Is It Still the Smartest Buy Right Now?
SpaceX is on a tear. How long can it continue this streak?
SpaceX Is Outperforming Everything. Is It Still the Smartest Buy Right Now?
Overview
Space Exploration Technologies (NASDAQ: SPCX) has gone where no public company has gone before. After debuting with a $1.5 trillion valuation, the stock surged nearly 20% over its first two trading days, lifting its market capitalization to roughly $2.5 trillion. Only five companies in the world are worth that much: Amazon, Microsoft, Apple, Alphabet, and Nvidia -- and SpaceX could possibly surpass at least two of them soon.
In early July, SpaceX will likely be added to the Nasdaq-100, which could set off a chain reaction of exchange-traded funds (ETFs) adding the space stock to their holdings. However you slice it, SpaceX's near-term market days -- barring unforeseen events -- are shaping up to be more in the green than red.
Details
Too much green, though, has a funny effect on vision: It makes everything around it seem brighter, more euphoric. Guards are lowered, caution thrown to the wind. Everyone knows an upward trend can't continue forever. Like it or not, a trillion-dollar company that reported less than $20 billion in total revenue last year is in bubble territory.
Source
Originally published at www.fool.com.
