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SpaceX Stock (SPCX) Price Could Rebound After 50% Drop
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
SpaceX stock has fallen nearly 50% from its June 16 high after a strong post-IPO rally, driven by profit-taking, valuation concerns, and upcoming lockup expirations. Despite the decline, TipRanks top-rated analyst Mike Zaccardi upgraded the stock to Buy, saying similar pullbacks have historically created long-term opportunities. He believes much of the lockup risk is already priced in, with the August 4 earnings report seen as a potential catalyst for a recovery.
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