If I Had $5,000 to Invest Today, Here's the Growth Stock I'd Buy Instead of SpaceX
This company continues to report excellent operating results, and its stock looks like a bargain.
On June 12, Elon Musk's Space Exploration Technologies (NASDAQ: SPCX) made its debut on the public markets. Investors expressed initial excitement regarding the company's ventures in space transportation, satellite internet, and artificial intelligence (AI), causing its shares to skyrocket to a peak of $225. However, SpaceX's stock has since endured a sharp decline of 39%, closing at $136.97 on August 21.
Despite still possessing a market capitalization of $1.86 trillion, and considering its trailing 12-month revenue of $23 billion, the stock continues to exhibit an exorbitant price-to-sales (P/S) ratio of 80.8, making it a staggering 13 times more expensive than the Nasdaq-100 technology index. Given the considerable room for further downside in SpaceX stock, if one were to invest a sum of $5,000 today, an alternative investment might be preferable.
One such option could be Netflix (NASDAQ: NFLX), and the following reasons outline why this stock could potentially deliver superior long-term performance.
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