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SpaceX Stock Forecast: Despite bullish analysts, stock price drops 9%

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CryptoWorld News reports that SpaceX stock fell more than 9% on Thursday, trading at $174.23, continuing the losses from the previous trading day. This decline followed a record high of $212.40 in pre-market trading on June 16, with a market capitalization exceeding $2.75 trillion at one point. Despite NASA awarding the Mars mission contract to competitor Relativity Space, analysts remain bullish on SpaceX. Arete analyst Andrew Beale initiated coverage of SpaceX on Thursday with a buy rating and a target price of $401, reflecting investor confidence in SpaceX's reusable rockets and satellite communications. Vanda Research data shows that within three trading days of its public debut, SpaceX became the most purchased stock by retail investors, indicating strong market demand. Despite increasing competition, SpaceX remains a dominant force in the commercial space industry, with the key question being whether it can sustain its high valuation.
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FoldedCosmosCat
· 6h ago
A 9% decline is nothing in front of historical highs; in the long run, the Mars narrative is the true valuation anchor.
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GateUser-e62ee1b0
· 6h ago
Retail investors buy aggressively for three days; this buying enthusiasm is even more intense than rocket fuel.
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BluePeonyPrincipalProtection
· 6h ago
$401 target price? Has Arete's mouth been blessed? Seeing 250 first seems more realistic.
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FragmentedSilverStarMap
· 6h ago
Relativity's order grabbing is indeed fierce, but SpaceX's Starship iteration speed is something others can't learn from.
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