SpaceX Stock Closed Up 19% in Its First Day Of Trading. Should Investors Buy, or Wait for the Hype to Cool?
The most anticipated debut in years is now trading. The harder question is whether the entry point makes sense after a big first-day pop.
SpaceX Stock Closed Up 19% in Its First Day Of Trading. Should Investors Buy, or Wait for the Hype to Cool?
Overview
The debut is done. After 24 years as a private company, SpaceX (NASDAQ: SPCX) is now a public stock, and a volatile one. Shares priced at $135, opened at $150, traded as high as about $177, and closed at about $161 as of this writing -- a gain of about 19% on the day, with the stock continuing to climb in after-hours trading.
That move values the rocket and satellite company at roughly $2.1 trillion, up from the $1.77 trillion the IPO price implied. It makes SpaceX one of the most valuable companies in the U.S. on day one, ahead of names like Meta Platforms and founder Elon Musk's own Tesla.
Details
So the interesting question is no longer whether the IPO would succeed. It clearly did. The question for anyone watching the ticker now is whether buying after a 19% pop is a disciplined move or a foolish chase.
Source
Originally published at www.fool.com.
