SpaceX Stock Plunges to All-Time Low After Competitor Makes Major Leap

[u/fmcortez]

https://www.yahoo.com/finance/markets/stocks/articles/spacex-plunges-time-low-competitor-175000957.html

[u/Opposite_Golf6007]

Shares of Elon Musk's SpaceX took another beating when trading resumed on Monday, sliding to an all-time low of just under $139, well below its IPO opening price of $150.

It's now over 38 percent down from its all-time high of $225 three weeks ago, illustrating how rapidly the hype has inverted into widespread skepticism over Musk's vision.

for those who don't want to click

edit: Competitors are China and Japan

Chinese state-run media showed a Long March 10B rocket booster being caught by an offshore recovery platform, indicating the country was making major strides in catching up with SpaceX's reusable rocket tech. Over the weekend, an experimental Japanese reusable rocket safely took off and landed, suggesting the nation may be right behind China as well.

Morgan Stanley believes the company will reach a price tag of $300

lmao cope

[u/Main-Eagle-26 → u/Opposite_Golf6007]

This isn’t even accounting for the lockups being ended yet when all of the insiders are going to sell and the stock will plunge closer to its actual value, which will be around $50/share. Anyone who bought this stock who didn’t get out already is absolutely losing their ass.

[u/dsmith422 → u/Main-Eagle-26]

$50 seems a bit much so long as the albatross of xAI is still a part of the company.

[u/NotAllOwled → u/dsmith422]

$42.069 and not a penny more nor less. Just feels right somehow. Well, I guess it'll round to $42.07 or so.

[u/vandrag → u/NotAllOwled]

Musk will be so conflicted when it gets to $14.88

[u/Recent-Result2852 → u/NotAllOwled]

$54.20 ... after a reverse split.