Lates News

After the sensational initial public offering (IPO) that shocked the market, SpaceX's (SPCX.O) first financial report has become one of Wall Street's most anticipated events this summer. However, whether this report will give investors a reason to buy into this continuously declining stock is another matter. As of the close on Monday, SpaceX's stock price stood at $114.53, having fallen about 15% from its IPO issuing price and nearly 50% from the peak reached on June 16. Based on the peak, the companys market value has evaporated by over $1 trillion. The financial report will provide investors an opportunity to reassess the stock. The problem is that SpaceX has not yet achieved profitability, and its business model remains highly speculative; thus, the report may ultimately bring not answers but more questions. Portfolio manager Drew Cupps stated, "There are too many parts of the SpaceX story that belong to the future; many things are still unfinished or have never been realized, so its hard to reassure investors. Right now, theres not much that has really been accomplished. You can't simply look at last year's performance to judge what price should be paid now."