SpaceX Stock Just Made This Startling Move. Stock to Avoid or No-Brainer Buying Opportunity?
Yahoo Finance ·
Space Exploration Technologies ( SPCX +2.38% ) was a stock market winner right out of the gate. The industrial and tech giant, more commonly known as SpaceX, soared 19% on its first day of trading -- and that was after the company completed the world's biggest initial public offering. After the exercise of an overallotment option, the company raised a total of more than $85 billion. But, in recent days, the stock has pulled back. In fact, SpaceX stock just made a particularly startling move, closing at $148 on July 8, a level that is below the company's debut price. Is SpaceX a stock to avoid or a no-brainer buy on the dip? Let's find out. SpaceX attracted a great deal of attention even prior to the announcement of its IPO, as investors speculated about when such a move would come. And the company truly took center stage once it filed for an operation and details emerged.
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