SpaceX Just Went Public at $2.1 Trillion. Here's Where History Says the Stock Will Be in 1 Year.
Written by Adam Spatacco for The Motley Fool -> SpaceX stock was priced at $135 for the IPO, but shares opened on the Nasdaq much higher. With a market cap of $2.1 trillion, SpaceX is one of the most valuable companies in the world. While the stock has a lot of momentum right
SpaceX stock was priced at $135 for the IPO, but shares opened on the Nasdaq much higher.
With a market cap of $2.1 trillion, SpaceX is one of the most valuable companies in the world.
While the stock has a lot of momentum right now, history suggests further upside could be limited for a bit.
The time has finally come. On Friday, Elon Musk's Space Exploration Technologies (NASDAQ: SPCX) -- popularly known as SpaceX -- hit the Nasdaq. While the offering price remained fixed at $135 per share, shares had popped by 25% to about $175 as of 2:30 p.m. ET on the initial public offering (IPO) day. It closed the session at $160.95.
At this point, SpaceX's market capitalization is about $2.1 trillion -- making it one of the most valuable companies in the world. Clearly, retail and institutional investors alike rushed in with overwhelming enthusiasm once the stock hit the public exchanges.
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Candidly, this kind of momentum is not uncommon for hot IPO stocks. In SpaceX's case, the day-one surge reflected broad confidence in the company's leadership across space exploration, satellite networks, and the emerging artificial intelligence (AI) business .
The question smart investors are asking is whether or not SpaceX stock can maintain its premium valuation. History offers a strikingly clear answer.
