Most Investors Are Overpaying for SpaceX Stock. Here's the Price I'd Actually Buy At.
Key PointsSpace Exploration Technologies is seeing excellent growth across its business segments.
Space Exploration Technologies (NASDAQ: SPCX) has captured the attention of both Wall Street and Main Street investors. Analysts are generally bullish on the stock, with an average price target of $223 per share, which is about 40% higher than its current share price. Initial retail shareholder enthusiasm led to significant buying, but recent selling has resulted in retail inflows of approximately $3.4 billion.
Despite the optimism, the author believes that most investors are overpaying for the stock. While SpaceX has the potential to become a transformational business across multiple industries, the market seems to be pricing the stock as if CEO Elon Musk's projected $1 trillion revenue by 2030 is a certainty rather than a highly uncertain possibility.
There is no room for error in SpaceX stock at the moment. Here is the author's suggested purchase price for the stock.
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