The Dip Is Here for SpaceX. Here's Whether to Buy It or Walk Away.

Elon Musk's Space Exploration Technologies (NASDAQ: SPCX) debuted on June 12, securing its position as the largest initial public offering (IPO) in market history. The stock's first three days were fiery. It closed out its third day with a share price of about $202, about 50% higher than its IPO price of $135.Since then, gravity has brought SpaceX back down to Earth. Although it still trades above its IPO price, shares have dipped below $155. They're now only slightly higher than the first opening price at $150 per share.Analysts, on average, assign that stock a price target of about $188, with some predicting an even higher share price of $310 (some, however, forecast a price as low as $62). At the average price target, SpaceX has an implied upside of about 24%, which suggests that today's sell-off might be creating a buying opportunity.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool