RESOLVING THE LEDGER
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After trading as low as $104.83 early in August, Space Exploration Technologies (NASDAQ: SPCX) seems to have found its footing following its first earnings report as a publicly traded company, which it delivered on Aug. 4. Just over one week later, on Aug. 12, the stock price climbed above its initial public offering (IPO) price of $135 per share, two months after the stock debuted to the public on June 12.
With such rapid rallies, there's always a fear among investors that momentum could reverse just as suddenly and sharply. And it bears noting that while it's back above its IPO level, it is still below the $150 price where it opened its first day of trading. But based on analysts' forecasts, SpaceX's stock price could be even higher by this time next year.
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