Story · Starlink
SpaceX Shares Fall Below IPO Price: A Contrarian Buy Worth Considering
SpaceX (NASDAQ: SPCX) shares have fallen below their $135 IPO price, trading around $124, a 45% decline from the post-debut high of $226. The decline is attributed to the mechanics of hype, including index fund buying that dried up, and a scrubbed Starship test flight. The article presents a contrarian buy case, highlighting Starlink's growth to over 10 million customers and price increases, as well as Deutsche Bank's buy rating with a $255 target. However, it warns that the stock is not cheap, with a market value of $1.64 trillion and a price-to-sales ratio of 84. The piece recommends treating SpaceX as a small, speculative position for investors who can tolerate high volatility and believe in long-term space-based connectivity.
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