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Markets · Investing · Business
Finance
Why I Think SpaceX Stock Could Get Cut in Half by Christmas
Between now and year's end, this rocket stock could fall even closer to Earth.
Since its initial public offering (IPO) back in June, the hype surrounding Space Exploration Technologies (NASDAQ: SPCX) has taken a serious breather. After surging from its IPO price of $135 per share to prices topping $225 per share, this popular name among space stocks has since given back its gains, and then some.
Worse yet, even as SpaceX has fallen back to Earth following moonshot moves earlier this summer, don't assume that shares in the Elon Musk-founded space exploration and artificial intelligence (AI) company have hit rock bottom. I think shares could fall by another 50% between now and Christmas for two key reasons.
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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.
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