Yahoo Finance | EN590 Commodities
EN590 Commodities GroupMarket Analysis 2026-08-30T10:07:06+00:00
David Einhorn and Morgan Stanley are looking at the same Space Exploration Technologies Corp. (NASDAQ:SPCX) and arriving at almost opposite conclusions. Einhorn's Greenlight Capital called SpaceX's $1.75 trillion IPO valuation a marker that a speculative top may be near. Morgan Stanley's Adam Jonas now says the post-IPO decline has created a "unique opportunity" and carries a $300 price target. The timing makes the disagreement more useful than a generic valuation debate. SpaceX went public on June 12 at $135 a share and raised roughly $75 billion before the underwriters' option. Its first public quarterly results then showed $7.8 billion of revenue but also a $541 million net loss and about $18.4 billion of capital spending as the company pushes simultaneously into rockets, Starlink and A
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