Space Exploration Technologies Corp. Class A Common StockSPCX
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Impact on stocks 1
Space Economy
Space Exploration Technologies Corp. Class A Common StockSpace Exploration Technologies Corp. Class A Common StockSpaceX stock has dropped 11% below its June IPO price of $135, trading lower after a recent Starship test flight was aborted due to multiple engine failures. The company, which opened at $150 and peaked near $225, now faces skepticism over its $1.6 trillion valuation despite not being consistently profitable. Capex for its AI segment hit $7.7 billion in the first quarter, an annual run rate of $30.8 billion, far exceeding last year's $12.7 billion, as it pursues a $26.5 trillion opportunity. The analyst view is that the medium-term outlook is not great and the stock is not a buy at current levels, suggesting investors wait for a steeper decline.