3 Reasons SpaceX Stock Could Drop 30% by 2028

Space Exploration Technologies (NASDAQ: SPCX) pulled off the largest IPO ever last month. The stock initially soared, but it has been moving south for a couple of weeks now. Shares of SpaceX have fallen to their IPO price of $135, as of writing. And there are good reasons it could decline much further, perhaps by as much as 30% (or more), by 2028. Here are three of them.Image source: The Motley Fool.Highly anticipated IPOs often trigger FOMO (Fear of Missing Out). Investors looking to get in early on hyped companies with seemingly highly attractive long-term opportunities bid up the share price as soon as they hit the market. However, enthusiasm eventually dies down, and the stock tends to fall much closer to levels that reflect its fundamentals. In SpaceX's case, this may already be happening: Fading enthusiasm is likely one of the reasons the company's share price has fallen back to its IPO level, 40% below the highs of about $225 it reached at some point. But we are still just about a month removed from the IPO. The stock could fall further as more investors begin evaluating the company on its fundamentals and not just its prospects. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool