SpaceX shares fell below their $135 IPO price for the first time on Wednesday, reaching an all-time low of around $132. The stock is now down approximately 40% from its June 16 peak of $225.
Attention now turns to SpaceX’s next Starship launch, scheduled for Thursday. The mission will attempt to deploy 20 Starlink V3 satellites for the first time, followed by a planned splashdown an hour after launch.
UBS believes a successful launch could provide a boost to the stock. Not surprising though, as the bank, one of the 20+ underwriters of SpaceX IPO, has a price target on the stock of $210 (54% upside from Tuesday’s close).
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