SpaceX Just Lost $600 Billion in Value in Less Than Two Weeks. That's Why I'm Buying Bitcoin.
The world's most valuable cryptocurrency is still a better buy than the world's biggest IPO.
Overview
SpaceX (NASDAQ: SPCX) was valued at $1.77 trillion when it went public at $135 per share on June 12, making it the biggest IPO in history. By June 16, its stock had reached a record high of $225.64, briefly boosting its market cap to $2.66 trillion.
As of this writing, SpaceX's stock trades at about $160 with a market cap of $2.02 trillion. Let's see why it lost over $600 billion in value in less than two weeks -- and why it might be smarter to buy Bitcoin (CRYPTO: BTC) as the top space stock fizzles out.
Image source: Getty Images.
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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.