Whether to buy or sell the stock has never been about fundamentals. It has always been a bet on the future and Musk’s ability to see it more clearly than anyone else.
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It may set the tone for the weeks to come.
Forget Starship test flight number 13. SpaceX stock will face an even greater challenge in the coming weeks: a Wall Street earnings report. Shares of Elon Musk’s rocket and AI company were lower early Friday after another Starship testing delay and a new lukewarm rating from Wall Street.
According to TheFly, HSBC analysts initiated their coverage of SpaceX with a ‘Hold’ rating and a price target of $115.
Nine Vanguard ETFs collectively bought $6.1 billion of SpaceX stock in June.
Six weeks ago Elon Musk held more paper wealth than any person in recorded history. Then two stocks started moving in the same direction at the same time, and the number on his balance sheet began doing something almost no one thought possible at that scale.
Founder Elon Musk wants to establish a permanent human colony on the moon.
Retail investors have poured four times as much into this stock since the beginning of July as they did into Alphabet, Amazon, and Tesla, combined!
SpaceX is currently trading well below its IPO price, but the valuation is still far too rich.
Solana tokenized equities volume surged from $1.34 million to $3.32 billion in a year, Bitwise CEO Hunter Horsley says.
Tesla influencer AleXandra Merz expects a potential Tesla-SpaceX merger to take seven to 12 months to complete.
Whether to buy or sell the stock has never been about fundamentals. It has always been a bet on the future and Musk’s ability to see it more clearly than anyone else.
The magnitude of SpaceX's overvaluation bodes poorly for it in the near term.
Space Exploration Technologies will report its second-quarter earnings after market close on Aug. 4
SpaceX faces a launch delay and stock dip as weather pushes Starship Flight 13 to Friday evening in Texas.
ASTS recently raised $1.15 billion to support growth and secure launch capacity as it remains heavily reliant on SpaceX.
Verizon Communications and Charter Communications will post Q2 results on Friday amid a tumultuous time for telecommunications companies.
And neither should you.
A $1 billion bet from 2015 has turned into one of the biggest investment wins in corporate history. Selling is another matter.
SpaceX, Oracle, and QuantumScape stocks fell to 52-week lows amid a broader market selloff in tech names, compounded by company-specific concerns.
Musk also said that SpaceX went public partly to let ordinary investors participate, even as its shares head toward a third straight weekly decline.