SpaceX Stock Has Pulled Back 32%. Time to Buy?
Yahoo Finance ·
Shares of rocket and satellite company SpaceX ( SPCX +0.13% ) have tumbled almost as fast as they climbed. After its market debut this month sent shares as high as $225.64, the stock has since fallen about 32% to about $153 as of this writing. A pullback like this in a stock investors couldn't get enough of just weeks ago raises an obvious question: Is now the time to buy? The company behind Starlink and a leading rocket-launch business is one of the most closely watched companies anywhere. But a lower price doesn't automatically make a stock a good deal -- and in SpaceX 's case, the valuation still looks stretched. SpaceX completed its initial public offering (IPO) on June 12, pricing shares at $135 -- the biggest market debut in history. The prospectus it filed ahead of the offering gave investors their first detailed look at the financials behind the hype.
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