Financial Market Analysis & Investment Research Partly open
SpaceX (SPCX): Profits in Orbit, Politics on Earth
The August 20 forecast for SpaceX played out, but the stock’s story didn’t end there. The company reported its first-ever profit and record revenue, but the market responded with a sell-off: the U.S. election results cast doubt on the construction of data centers in Texas and the merger with Tesla, the Nasdaq index entered a correction, and the main lock-up period for shares expires in December. We’ll break down why the strong quarter didn’t provide support for the stock price and what levels will determine the stock’s movement in the coming weeks.
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