SpaceX Stock Is Down 45% From Its High. History Suggests a $5,000 Investment Now Will Be Worth This Much by Mid-2027.
SpaceX stock has plummeted to a level well below its IPO price.
Overview
Space Exploration Technologies (NASDAQ: SPCX) completed its landmark initial public offering (IPO) on June 12. Investor enthusiasm propelled SpaceX stock sharply higher than the IPO price, with shares opening on the Nasdaq around $150 on the first day of trading and closing near $161. The offering valued SpaceX at more than $2 trillion -- making it the largest IPO in history.
Momentum continued briefly as the stock reached an intraday peak of $225.64 just days after the IPO. However, shares have since given back all of those gains and then some.
Details
As of the close of trading on Friday, SpaceX stock was trading at just $123.99. This represents a decline of 45% from its post-listing high, and a drop of 17% from its first-day opening price. Is now a good time to buy the dip in SpaceX stock, or should retail investors who have avoided the volatility so far keep sitting on their hands?
Source
Originally published at www.fool.com.