Reported by the Editorial Team
SpaceX, Elon Musk’s rocket, satellite and artificial intelligence (AI) company, marked its first month of trading on the New York Stock Exchange on Tuesday. During this first month, share prices have fluctuated, reaching a price of around $140 on Monday – some $10 below its debut price of $150.
Despite reaching a high of $224.64, the company has failed to meet investors’ expectations, who had predicted a stronger start given that this was the largest initial public offering in history.
In fact, SpaceX shares fell by more than 3.5 per cent on Tuesday after closing at $145.30 on Friday, eventually closing the session at $135.08. This performance may contrast with some of the recommendations issued this week: analysts at Raymond James set their target price at $800 – the highest of all – whilst those at Morgan Stanley set a target price of $300 and UBS set a target price of $210.
