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SPCX opening day was surprising
Investor summaryBearish
SPCX IPO didn't skyrocket as expected, closing at 160; author predicts a drop to 120, calling it overpriced.
Bear points
- Failed to break 180 and closed lower than expected at 160.
- Author believes it is overpriced and will slowly decline to settle around 120.
- Not an easy money maker nor a great long-term investment.
Post body
Many people expected the SpaceX IPO to open up and skyrocket. They expected extreme volatility and price swings. This didn’t really happen. SPCX didn’t cross 180 and finished the day “only” at 160. Were other people surprised by this? What’s the future hold for SPCX?
I believe the stock will slowly lower and settle around 120. Still over priced but not the easy money many thought nor the great long term investment.
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