Two weeks after its record-breaking IPO, SpaceX isn't far from where it started.
Around two weeks ago, Elon Musk's SpaceX conglomerate went public. Everyone who is remotely interested has a fair idea of the numbers.
As Space Exploration Technologies Corp. (NASDAQ: SPCX) closes out two weeks of trading, Steve Silver, an analyst at Argus Research, has initiated coverage of SpaceX stock.
Shares of SpaceX (NASDAQ:SPCX) are trading lower again on Friday morning, with the stock changing hands at $152.
SpaceX Corp (NASDAQ:SPCX) is considering launching a Starlink-branded mobile phone service in the United States, according to a Financial Times report published on Friday, potentially expanding the company's role in the telecommunications market. The report cited comments from SpaceX President Gwynne Shotwell during a recent investor roadshow, where she reportedly discussed plans for a direct-to-consumer wireless offering and the possibility of building a terrestrial mobile network in the US.
Following an impressive stock market SpaceX (NASDAQ: SPCX) launch, the equity took a sharp downward turn shortly after setting a record valuation of almost $3 trillion on June 16.
SpaceX stock's valuation is firmly in nosebleed territory. The company may prosper over the long term.
SpaceX (NASDAQ:SPCX) is the only ticker financial media wants to discuss this week after its blockbuster public debut at an implied trillion-dollar valuation.
The SpaceX (NASDAQ: SPCX) short volume ratio has been steadily climbing since the first day in the stock market, June 12, and hit its fourth consecutive and latest all-time high (ATH) of 68.72 on Wednesday, June 24.
CNBC's Becky Quick reported that Elon Musk's SpaceX (NASDAQ:SPCX) tapped the bond market for $25 billion in a sale that priced less than two weeks after its record-breaking IPO.
SpaceX commands a unique market position with an unmatched $28.5 trillion TAM, spanning space, connectivity, and AI ambitions. I'm initiating SPCX with a buy rating, despite its premium valuation, due to its sustainable growth trajectory and lack of near-term earnings cliffs. SPCX's dominance is underscored by its NASA certification and first-mover advantage in private orbital launches, outpacing distant competitors like Blue Origin.
Shares of Elon Musk's Space Exploration Technologies Corp. (Nasdaq: SPCX), better known as SpaceX, are having a bad week so far.