Lates News

Ipek Ozkardeskaya of Swissquote Bank wrote that after SpaceX's first public offering last week, the stock price skyrocketed, signaling that the rally in technology stocks may have entered bubble territory. SpaceX closed on Tuesday as the fifth largest company in the world in terms of market value, rising nearly 50% from the IPO price of $135 per share. Ozkardeskaya pointed out that despite SpaceX not providing profit forecasts for this year and ongoing uncertainties regarding the feasibility of the company's space infrastructure plans, the stock price still surged significantly. "SpaceX may be the biggest warning signal indicating that the current rally in tech stocks is reaching an unsustainable valuation level."