Reuters Videos22d agoneutralVIDEO
SpaceX shares 'could go a lot lower,' says portfolio manager<body><p>STORY: SpaceX shares have been volatile, experiencing brief bouts of strength before slipping back. The stock has dropped below its initial public offering price for the first time, falling to around $132.59 a share.</p><p>Casey says SpaceX shares could fall further as investors reassess lofty expectations that were largely priced in at the IPO, but argues that the pullback doesn't alter the company's long-term outlook.</p><p>"It's not to say that we're negative on the story long term, and you have to expect this kind of volatility when you're investing in the large, large companies that are only just going public," Casey says.</p></body>
