Home / Business and Economy / SpaceX Shares Poised for Dip Below IPO Price?

SpaceX Shares Poised for Dip Below IPO Price?

13 Jul

Summary

Investor predicts SpaceX shares may fall under $135 IPO price.
A portion of locked shares will become available in early August.
Tesla's valuation is also criticized for being excessively high.

SpaceX Shares Poised for Dip Below IPO Price?

Gary Black, an investor with The Future Fund LLC, has projected that shares of Elon Musk's SpaceX could fall below the initial public offering (IPO) price of $135 per share in the coming days. This prediction stems from a significant release of locked shares scheduled for early August, with approximately 20% becoming available to insiders.

Further tranches of shares are slated for release following SpaceX's third-quarter earnings call. Black also expressed reservations regarding Tesla's valuation, noting its price-to-earnings ratio is substantially higher than its earnings-per-share growth. He suggested that many proponents of Tesla overlook its valuation concerns, especially as autonomous driving technology becomes more commoditized.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.