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Elon Musk's SpaceX is many different things to many different people — but one thing that it definitely isn't is a get-rich-quick scheme.
Since its debut on the public tickers back in early June, SpaceX shares have sunk from a high of over $225 to a dismal $110 today, as compounding failures and overvaluation fears take their toll. Overall, SpaceX is down nearly 30 percent compared to its opening stock price of $150 — and all those day-one rubes are now seeing red.
I figured that this would happen and that's why I didn't get in on the first day of the IPO. I'm counting on the stock to go even lower and that's when I intend to get in hopefully before it pops back up.
Since its debut on the public tickers back in early June, SpaceX shares have sunk from a high of over $225 to a dismal $110 today, as compounding failures and overvaluation fears take their toll. Overall, SpaceX is down nearly 30 percent compared to its opening stock price of $150 — and all those day-one rubes are now seeing red.
I figured that this would happen and that's why I didn't get in on the first day of the IPO. I'm counting on the stock to go even lower and that's when I intend to get in hopefully before it pops back up.
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