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SpaceX stock back under pressure as Q2 earnings approach
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SpaceX (SPCX) stock came back under pressure on Wednesday, reversing yesterday's bounce, as a broader market and tech sell-off adds to investor caution ahead of SpaceX's first earnings report.
SpaceX has now shed roughly 30% from its $150 market debut last month and is down roughly 50% from its all-time high of $225.64.
Yu and Deutsche Bank have a Buy rating on the stock, and a $255 price target, implying a nearly 130% gain.
The slide comes as SpaceX bets ever more aggressively on Starship at the expense of Falcon 9, its proven moneymaker.
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