Scott Galloway Blasts SpaceX as "Crazy Overvalued." Says the Stock Could Fall 90% From Here
Galloway said the stock is inflated by a 4.2% public float and index-fund buying, while Wall Street rates it a Moderate Buy near $229.
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Scott Galloway Blasts SpaceX as "Crazy Overvalued." Says the Stock Could Fall 90% From Here
NYU professor Scott Galloway just put a price target on SpaceX that would wipe out most investors who bought at the IPO, and a massive share unlock scheduled for Aug. 20 could be the moment that tests whether he is right.
'Crazy overvalued': Scott Galloway says SpaceX is a '$10 to $30 stock'
NYU professor and podcaster Scott Galloway says SpaceX is hugely overvalued.Business Wire/APPodcaster and NYU professor Scott Galloway says SpaceX's stock is hugely overvalued.He argued that the stock, which trades at $146 per share, is worth as little as $10.Elon Musk "will go down as the greatest engineer of our time, but as a financial engineer," he said.Scott Galloway says SpaceX's stock is trading far above where it should be, and even its …
Galloway pointed out that SpaceX's enormous valuation was partly due to market mechanisms that worked to the company's exceptionally favorable position during its initial public offering (IPO) in June.
Since SpaceX's record-breaking IPO in June, its stock price has experienced significant volatility. New York University professor and investor Scott Galloway recently stated that SpaceX's valuation remains far above its fundamentals, and even with the stock price falling from its peak, it is still not an attractive investment target; he believes a reasonable price is only $10 to $30 per share.
SpaceX's shares are "madly overvalued," according to analyst Scott Galloway, who estimates that SpaceX is worth between $10 and $30 and that its price is going to fall by at least 50%Even after a sharp decline from its highest level, the SpaceX share price remains well above its intrinsic value, and the company is still not an attractive investment," said Scott Galloway, professor at the University of New York and technology analyst. "He felt th…
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