- SpaceX stock closed at $113.50 on Monday, marking a new low for shares and down 16% from the $135 IPO price.
- Shares traded as low as $108.66 on Monday, down 52% from its all-time high of $225.64, resulting in a market value loss of roughly $1.5 trillion.
- Morgan Stanley analyst Adam Jonas believes SpaceX is getting no value for its AI business at the $100 level, despite rating the stock as Buy with a $300 target.
- The company has shed more than $1.2 trillion in market value from the June 16 peak, marking one of the largest market capitalization wipeouts in history.
- Barron’s previously suggested SpaceX was worth $90, while another potential bottom is $63, where Meta Platforms stock bottomed after its IPO.
- Jonas noted that SpaceX’s space launch and space-based broadband business could easily be worth $136 alone.
- Shares have erased one-fifth of their value since the record-setting debut of Elon Musk’s company, as investors have shunned riskier technology firms.
SpaceX stock closed at $113.50 on Monday, marking a significant decline of 52% from its all-time high of $225.64. This drop has resulted in a staggering loss of over $1.5 trillion in market value, reflecting a broader trend of investors moving away from riskier technology stocks.1
Analysts are divided on the stock's future. Morgan Stanley's Adam Jonas believes that SpaceX's AI business is undervalued at $100 but maintains a Buy rating with a target price of $300. In contrast, Barron’s has suggested a valuation of $90, indicating a potential bottom at $63, which is where Meta Platforms stock bottomed after its IPO.
The stock has lost one-fifth of its value since its record-setting debut, as investors have become increasingly cautious about technology firms. The stock slumped further to $107.80 at 9:36 a.m. in New York, continuing a sharp downturn from its peak shortly after its debut last month. The company has now shed more than $1.2 trillion in market value from the peak on June 16, marking one of the largest market capitalization wipeouts in history.
“Morgan Stanley analyst Adam Jonas rates SpaceX stock as a Buy with a target of $300, despite its current struggles. The stock's decline has wiped out roughly $1.5 trillion in market value, raising concerns about its future performance and potential recovery points at $90 and $63.”
