The Crowd Is Dumping SpaceX Stock. Here's Why I'd Be Buying It on the Dip.
SpaceX stock is down 31.5% from its all-time high set just a week ago.
The Crowd Is Dumping SpaceX Stock. Here's Why I'd Be Buying It on the Dip.
Overview
Space Exploration Technologies (NASDAQ: SPCX) shares have only been trading on public markets for a few weeks. But the ride has already been extreme. After pricing its IPO at $135 per share, SpaceX stock immediately jumped to nearly $226 per share. After a steep correction, however, shares are now down to just $154.60 -- a drop of more than 31% in a matter of days.
The company's market cap remains just above $2 trillion -- a steep price to pay for a company that's still losing money. But if you're bullish on artificial intelligence, SpaceX stock remains a top pick for one clear reason.
Details
Many retail investors think of SpaceX as a rocket or satellite stock. Savvy investors, however, realize that the company is really an AI stock.
Source
Originally published at www.fool.com.
