SpaceX Shares Fall Below IPO Price: A Contrarian Buy Worth Considering
SpaceX (NASDAQ: SPCX) shares have fallen below their $135 IPO price to around $124, down roughly 45% from a post-debut high of $226. The decline is attributed to the mechanics of hype—initial index fund buying dried up after inclusion—and a scrubbed Starship test flight, rather than fundamental business deterioration. The article presents a contrarian buy case: Starlink now serves over 10 million customers and is raising prices, Deutsche Bank has a $255 price target, and the company's long-term optionality (direct-to-phone, Starship) remains intact. However, it warns the stock is not cheap, with a $1.64 trillion market cap and 84x sales multiple, and recommends treating it as a small, speculative position. The piece is analysis/commentary, not a breaking news event.
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