Here’s What $5,000 Invested in SpaceX Could Be Worth in 2030
Space Exploration Technologies (NASDAQ: SPCX), otherwise known as SpaceX, was the hottest initial public offering (IPO) of the year, if not the century. However, despite the massive demand for shares at IPO and the initial price jump, SpaceX stock has been a laggard. It trades at $148 today, about 10% higher than the IPO price of $135 and below the first-day opening price of $150. It’s down almost 8% since the first-day closing price, when investors who didn’t get shares at IPO had the chance to buy shares. However, there are plenty of people who are bullish on this stock. The median Wall Street analyst target price is $217, a 46% increase from today.
Most investors should buy stocks thinking at least a few years out. Here’s where SpaceX stock might be in 2030.
SpaceX’s growth rates weren’t particularly impressive leading up to its IPO, but they were much higher in the second quarter, SpaceX’s first as a public company. Total revenue increased 92% year over year driven by all of its segments, but particularly xAI, its artificial intelligence (AI) business. Here’s the breakdown, including profits and losses:
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.