SpaceX Stock Is 169% Overvalued According to Experts. Here's Why.
SpaceX stock may only be worth $63 per share, according to one report.
Overview
SpaceX (NASDAQ: SPCX) officially priced its IPO at $135 per share. Very quickly, however, the stock's valuation soared to $225 per share. Even following a sharp correction, shares still trade around $170 per share -- well above the IPO price just a few weeks prior.
A report from research firm Morningstar, however, is pumping the brakes. The firm believes SpaceX to be worth just $63 per share -- nearly two-thirds less than the prevailing stock price.
Details
Is SpaceX stock really 169% overvalued? Let's take a look at Morningstar's arguments.
Source
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.