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Finance
Why This Could Be the Worst Time to Buy SpaceX Stock
The price is down, the macro picture is shaky, and there's something else going on, too.
What's going on with Space Exploration Technologies(NASDAQ: SPCX) stock? The space stock was the largest initial public offering (IPO) ever when it went public less than a month ago, and instead of the projected $75 billion raised, underwriters were able to use their 15% overallotment because there was so much interest. SpaceX ended up raising $86.7 billion.
But after all of that hyper-interest and an initial run-up, SpaceX stock is now trading below its market open price of $150 as of this writing.
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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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