SpaceX Stock Just Quietly Fell to $124 a Share -- and It's Still Not a Buy
The stock just closed at an all-time low. A lower price alone doesn't make it a buy.
Overview
While investors spent the week focused on a brutal sell-off in chip stocks, rocket maker and satellite internet company SpaceX (NASDAQ: SPCX) quietly kept falling. Shares slid 5.4% on Friday to close at $123.99. That marked a sixth straight daily decline, an all-time closing low for the stock's brief public life, and a level below the $135 price from its June initial public offering (IPO).
The slide has been more of a drip than a crash, which may be why many investors haven't registered it. But the cumulative damage is significant.
Details
Shares peaked at $225.64 shortly after their debut, so the stock has lost about 45% of its value in roughly a month.
Source
Originally published at www.fool.com.
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