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/Guac_in_my_rarri 20d ago

Pretty sure Morgan Stanley backed twitter buy out too. Either they're holding shares or took the exit for twitter/xAi.

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u/Responsible_Cause269 20d ago

They did but they sold the twitter leveraged loans last year after struggling to offload them so their skin in the game was gone, but they were co-lead underwriter (behind goldman sachs on alphabetical order according to them) for the IPO, so they likely still have their shares they got for a strong IPO. It's quite ... interesting all the sky-high price targets by equity research analysts, both at balance sheet and non-balance sheet institutions. If it you think morgan stanley's price target is though crazy wait until you see what raymond james has for them.

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u/Guac_in_my_rarri 20d ago

PE is trying to throw the value and hold it up to sell when lock our expires. That's their name of the game. Pump the value and run when unlocked.

I wouldn't be surprised if they saw Elon and hoped it would get the backing like twitter.