SpaceX Stock Has Pulled Back 32%. Time to Buy?
Does the market's biggest-ever debut look like a bargain yet?
Overview
Shares of rocket and satellite company SpaceX (NASDAQ: SPCX) have tumbled almost as fast as they climbed. After its market debut this month sent shares as high as $225.64, the stock has since fallen about 32% to about $153 as of this writing.
A pullback like this in a stock investors couldn't get enough of just weeks ago raises an obvious question: Is now the time to buy? The company behind Starlink and a leading rocket-launch business is one of the most closely watched companies anywhere. But a lower price doesn't automatically make a stock a good deal -- and in SpaceX's case, the valuation still looks stretched.
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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.