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SpaceX Shares Fall Below IPO Price: A Contrarian Buy Worth Considering
['Micah Zimmerman', 'The Motley Fool', 'July', 'Min Read']
Yahoo Finance
For contrarians, who like to buy what everyone else is fleeing, it is an invitation to take a closer look.
SpaceX popped on its debut, then got swept into a major stock index, which forced index funds to buy the shares.
Deutsche Bank, for one, launched coverage with a buy rating and a $255 target, well above today's price.
The catch worth namingI would not confuse "below the IPO price" with "cheap," though.
So is SpaceX a contrarian buy worth considering?