SpaceX Stock Is Slumping: Is Now the Time to Buy or Hold Off?
SpaceX still trades at a premium valuation compared to the market.
Overview
Space Exploration Technologies (NASDAQ: SPCX), which most people know as SpaceX, received a lot of attention from the press and investors when it sold shares to the public for the first time in June. The stock price certainly has been on a wild ride since the initial public offering (IPO).
The company priced the IPO at $135, with the closing price peaking at above $211 on June 16. It has dropped dramatically since then, closing at $114.92 on Aug. 6, 46% below the high price.
Details
Does this represent a buying opportunity? Or is it a warning to avoid SpaceX shares?
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.