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Markets · Investing · Business
Finance
SpaceX Sank Today -- Is the Stock a Buy Right Now?
SpaceX just had its first daily valuation pullback as a public company. Is now the time to buy?
Wednesday saw Space Exploration Technologies(NASDAQ: SPCX) stock record its first day in the red since going public on June 12. The company's share price slid roughly 5% in a daily session that saw the S&P 500 decline roughly 1.2% and the Nasdaq Composite fall 1.3%.
There wasn't any business-specific news behind SpaceX's valuation pullback today, but it's not shocking that the stock has taken a breather on the heels of its red-hot IPO. Even with today's pullback, the company's share price is up roughly 42% from where it stood at the close of the market on the day of its public debut.
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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.
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