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SpaceX moon crash is a perfect metaphor for rocket maker’s share price, analysts say
['Hugh Leask']
International: Top News And Analysis
Steve Nesius | ReutersParts of a SpaceX rocket reportedly crashed into the moon on Wednesday — a collision analysts say provides a "good metaphor" for the satellite maker's plunging share price.
The sell-off coincided with the expected impact of part of a two-stage SpaceX Falcon 9 rocket system.
The 4-metric-ton rocket part, which was travelling at more than 5,400 mph, was believed to have unintentionally struck the moon around 2:35 a.m.
"Part of a SpaceX rocket crashing into the moon this morning is probably a good metaphor for the share price performance so far," said Chris Beauchamp, chief market analyst at investing and trading platform IG.
"As visual metaphors go, the fact a SpaceX rocket crashed into the moon hours after it had delivered its debut quarterly earnings feels almost too on the nose," said Russ Mould, investment director at AJ Bell.