Space Exploration Technologies Corp. shares have struggled to gain momentum since their recent IPO, prompting analysts to issue cautious ratings as the company joins the Nasdaq 100 index.
Key Points
- Space Exploration Technologies Corp. (SPCX) shares are down 7% from their first-day closing price of $160.95.
- The stock is currently trading approximately $15 above its initial listing price of $135.
- Susquehanna initiated coverage on June 23 with a Neutral rating and a $170 price target.
- Keybanc assigned a Sector Weight rating, noting that AI growth and launch dominance are already priced into the stock.
- Jim Cramer suggested the recent Nasdaq selloff was linked to the company's inclusion in the Nasdaq 100 index.