SpaceX Stock Is Down 35% From Its Peak and Back Near Its IPO Price. Is It Time to Buy the Dip?
You can now buy SpaceX for its lowest publicly traded price yet. But should you?
SpaceX Stock Is Down 35% From Its Peak and Back Near Its IPO Price. Is It Time to Buy the Dip?
Overview
Space Exploration Technologies Corp. (NASDAQ: SPCX), better known as SpaceX, has only been publicly traded for less than two weeks, but it has already taken investors on quite a rollercoaster ride.
The IPO itself raised $85 billion for the company at a valuation of about $1.8 trillion, with an initial share price of $135. However, the SpaceX IPO was highly oversubscribed (meaning there was more demand than there were shares available), and by the time it opened for trading on the public market, SpaceX shares were over $150.
Details
Over the next few days, SpaceX continued to rally as the initial wave of interest drove strong buying activity, and the stock price reached $225.64, briefly making the company's market capitalization greater than that of Microsoft (NASDAQ: MSFT).
Source
Originally published at www.fool.com.
