Well, that didn’t take long.
On Tuesday, June 23, its sixth full day of trading, the stock of Space Exploration Technologies Corp. (NASDAQ: SPCX), or SpaceX, briefly dipped to an all-time low of $147.55/share, below its debut price of $150/share
Since then, it hasn’t closed above $157/share. But is this price drop actually a buying opportunity in disguise? Here’s what investors should know about SpaceX’s prospects moving forward.
Par for the course SpaceX’s shares shot up to an intraday high of $176.52/share just after it began trading on Friday, June 12. Many observers thought that might be the high-water mark for the stock. But SpaceX surprised everyone over the following two days as its stock price rocketed up to close at $211.39/share on Tuesday.