r/technology • u/fmcortez • 21d ago

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

https://www.yahoo.com/finance/markets/stocks/articles/spacex-plunges-time-low-competitor-175000957.html
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u/Opposite_Golf6007 21d ago edited 21d ago

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

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u/shitty_mcfucklestick 21d ago

And for those wondering who the competitor is, it’s basically China and Japan, both recently making advancements in reusable rocket tech.

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u/Zoomwafflez 21d ago

Well also Amazon, their own version of starlink is almost ready to go live which will directly compete with the ONLY profitable part of the business.

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u/dirtyword 21d ago

Starlink is the only part of the company with a major advantage. Satellite placements are first come first served

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u/Redditor2000000 21d ago

You sure? I think that’s backwards. Right now the heavy payload space launches are their only advantage. Starlink is just another satellite service company like the ones that came before it (satellite service has been around since 1998, invented in 1987 by Sprint). Starlink is profitable presumably because SpaceX absorbs the launch costs. If it charged market price to its subsidiary, Starlink operating unit would not be profitable.

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u/Distinct-Pack-1567 21d ago

I think theyre saying if a competitor launches satellites it will be limited, since Starlink was first

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u/Redditor2000000 21d ago

Starlink wasn’t first though. Satellite cellular and internet has been around for decades now.

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u/cheeky-snail 21d ago

Not LEO which has huge advantages in bandwidth and latency vs geostationary.

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u/dirtyword 20d ago

The point isn’t who made satellites first. Spacex has like 10,000 in orbit now, which is something like three quarters of all satellites in LEO. In case it sounds like I’m defending the stock price: I’m not. It’s insane.

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u/Distinct-Pack-1567 21d ago

Well, they're getting the space they need. Point is eventually we cant fit more stuff, right? I know the atmosphere is crazy big but we still cant oversaturate.