Quick Read
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Up moderately today, SpaceX (SPCX) stock plunged from around $211 to $154 in three post-IPO sessions as profit-taking and valuation concerns erased a significant portion of debut gains.
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Susquehanna rated SPCX Neutral with a $170 target, projecting 81% annual revenue growth but warning the valuation demands near-perfect execution.
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Starlink’s expanding global reach and SpaceX’s reusable rocket dominance anchor the bull case, with Starship representing a major additional long-term opportunity.
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SpaceX (NASDAQ:SPCX) stock has endured a rough stretch since its highly anticipated public debut. After closing at $211.39 on June 16, SPCX stock fell to $191.82 on June 17, then slipped to $185 on June 18 before plunging to $154.60 on June 22.
SpaceX stock is trading modestly higher today, but the three-session selloff erased a significant portion of the gains that followed SpaceX’s June IPO. The sharp decline appears to reflect a combination of profit-taking, valuation concerns, and growing debate about how much future growth is already priced into SPCX shares.
At the same time, Wall Street is far from uniformly bearish on SpaceX. The company continues to command attention thanks to its dominant position in rocket launches, the growth potential of Starlink, and ambitious plans that could reshape multiple industries.
SPCX Stock Loses Altitude After Strong Debut
The recent decline in SPCX stock comes after an extraordinary run that briefly pushed SpaceX’s valuation into rarefied territory. Even after the selloff, SpaceX remains one of the most closely watched growth stories in the market.
Some investors appear to be reassessing the premium valuation attached to SpaceX following its debut. Growth stocks can experience sharp swings when expectations are elevated, and SpaceX stock has quickly become a focal point for both the bulls and the bears.
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Susquehanna Sees Upside but Remains Cautious
Susquehanna initiated coverage of SpaceX stock with a Neutral rating and a $170 price target. The firm expects SpaceX to grow revenue by 81% annually and EBITDA by 76% annually through 2028, highlighting the company’s impressive long-term growth profile.
According to Susquehanna, SpaceX benefits from a dominant position in rocket launch services and from Starlink’s expanding global connectivity platform. Those advantages help support the bullish thesis surrounding SpaceX and its ability to generate substantial growth in the years ahead.
