SpaceX Stock Has Pulled Back 39% From Its Peak and Could Be Worth as Little as $95 by 2028
The newly public megacap may not have much room to run.
Overview
Space Exploration Technologies (NASDAQ: SPCX), better known as SpaceX, went public on June 12 with enormous expectations, but its first couple of months of trading have been anything but smooth. As of Aug. 25, the stock has dropped by about 39% from its all-time high of $225.64 a share. It now trades less than 3% higher than its IPO price of $135 per share, and since early July, it has largely traded below the $150 per share at which it opened its first day of trading on the Nasdaq.
The tech stock has been all over the chart, with an early August dip to just below $105. That said, even if it delivers aggressive revenue growth over the next year, it isn't out of the question for the share price to drop below $100 by 2028.
Image source: The Motley Fool.
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Originally published at www.fool.com.