SpaceX Stock Rebounds Above $170. Here Is How Much Upside Analysts See Left.
Yahoo Finance ·
SpaceX ( SPCX +2.83% ) stock has been incredibly volatile in the weeks following its groundbreaking IPO. In many ways, this was expected. The company sold less than 5% of its total outstanding shares during its public sale. That means just a tiny fraction of the company is available for public purchase -- a dynamic that can lead to sudden supply-and-demand imbalances. Most major companies, for comparison, have at least 80% of their outstanding shares trading on public markets . After pricing its IPO at around $135 per share, the stock immediately soared well above $200 per share. SpaceX shares tumbled in the days to come, bottoming out around $150 per share. Right now, however, a rebound is taking place. With the stock crossing above the $170 mark as of this writing, how much upside does Wall Street see remaining? You might be surprised by the answer.
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