Yahoo Finance | EN590 Commodities
EN590 Commodities GroupMarket Analysis 2026-07-18T23:34:57+00:00
With investors increasingly questioning whether massive AI and infrastructure spending will generate adequate returns, Space Exploration Technologies Corp (NASDAQ:SPCX) has become one of the stocks caught in the broader valuation reset. SPCX has dropped below its $135 IPO price after a sharp rally to all-time highs of $225.64. With the stock trading at about $123, it has shed about 45% in share price from its all-time high. It is also down by about 9% from its IPO price. The significant share price pullback, as initial IPO enthusiasm cools, comes as investors increasingly assess whether the price was justified. SpaceX's valuation assumes flawless execution, which remains a big concern. The stock has traded at about 45x estimated 2026 sales, far above most large technology companies. Invest
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25+ years in mineral exploration and extraction. 15+ years of global commodity trading. Based in New York, USA serving 75+ countries.