SpaceX Stock Falls 7.6%, Now 12% Below Its High

Price Action

โดย The Motley Fool·Read original

Summary · why it matters

SpaceX stock dropped 7.6% as of 1:25 p.m. ET, bringing it about 12% below its recent high. The decline follows the frenzy over the Space Exploration Technologies IPO, though shares remain above the opening-day close of $161. CEO Elon Musk projects revenue will exceed $1 trillion in 2030, while Wall Street analysts at Goldman Sachs and Morgan Stanley reportedly estimate $470 billion and $330 billion, respectively. The company generated $4.7 billion in first-quarter revenue, leaving the stock at a lofty price-to-sales ratio even under the more conservative forecasts.