SpaceX Stock Is Down 45% From Its Peak. Should Investors Buy the Dip or Run for the Hills?
Elon Musk's company has already lost more than $1 trillion of its peak value.
Overview
Elon Musk's space transportation, satellite internet connectivity, and artificial intelligence (AI) infrastructure company, Space Exploration Technologies (NASDAQ: SPCX), went public on June 12 with an opening price of $150 that day. In the days that followed, stock quickly rallied to an all-time high of $225.64, resulting in a market capitalization of almost $3 trillion.
However, as of the market close on Thursday, July 16, SpaceX stock was down 45% to just $125 as of mid-afternoon Friday. Although Wall Street is forecasting significant revenue growth for the company, its stock continues to trade at a sky-high valuation, which could lead to further volatility from here.
Details
Should retail investors take this opportunity to buy the dip, or would they be better advised to steer clear?
Source
Originally published at www.fool.com.
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