SpaceX (SPCX) Is Down 31% From Its High and Is Now Borrowing $25 Billion. Should Investors Be Worried?
If I were a shareholder in SpaceX, I'd be worried.
SpaceX (SPCX) Is Down 31% From Its High and Is Now Borrowing $25 Billion. Should Investors Be Worried?
Overview
If you pay any attention to financial or business news, you're probably aware of Space Exploration Technologies (NASDAQ: SPCX), or SpaceX, another Elon Musk company in addition to Tesla. You may also know that it launched on the stock market through an initial public offering (IPO) in mid-June.
Here we are, a few days later, and the stock is down 31% from its high of about $225 per share to a recent $154 (as of June 24). That's kind of worrisome on its own, and on top of that, SpaceX management is planning to take on considerable debt, too. Is that enough reason to steer clear? Let's see.
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Originally published at www.fool.com.
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