SpaceX (SPCX) Stock Is Plunging. Should You Buy the Dip?
Investors are already losing money on SpaceX -- and there may be more losses ahead.
SpaceX (SPCX) Stock Is Plunging. Should You Buy the Dip?
Overview
Space Exploration Technologies (NASDAQ: SPCX), or SpaceX, made its debut on the stock market through an initial public offering (IPO) on June 12. The Elon Musk-led company saw its shares surge by some 67% between its IPO and a June 16 peak -- but the story has changed. Shares were recently down nearly 20% over the past week, briefly dropping below where they started trading, at $150 per share.
Many times, when a stock drops sharply, there's an opportunity to assess whether the case for investing in the company has gotten stronger, thanks to a more compelling valuation. In this case, with SpaceX, I'd recommend you not bother doing so. Here's why.
Image source: The Motley Fool.
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Originally published at www.fool.com.
