SpaceX Stock Is Down 50% From Its Peak. Here's 1 Reason to Buy the Dip, and 1 Reason to Run for the Hills.
SpaceX is having a rough start to life as a public company.
Overview
Elon Musk's Space Exploration Technologies (NASDAQ: SPCX) went public on June 12. SpaceX stock quickly rallied to a record high of $225, but it has since lost 50% of its value and is trading at about $110 (as of Aug. 6).
SpaceX has the potential to create tremendous long-term value for shareholders through its rocket launch, satellite internet connectivity, and artificial intelligence (AI) businesses, but its stock is plummeting right now for a perfectly logical reason: valuation.
Details
Here's one reason investors might want to buy the recent dip and one reason to steer clear.
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.