SPACEX HAS ERASED MORE THAN A WHOLE TESLA SINCE ITS FIRST WEEK OF TRADING $SPCX has collapsed from a $2.77T peak to $1.48T, down 46.4%. That's $1.28T wiped out, more than Tesla's entire $1.18T market cap. About three weeks ago, Tom Lee said a SpaceX pullback could end up being a buying opportunity. Now the chart has moved even further into that pullback. His reasoning at the time: He won't put a price target on a company where all the growth is still in the future. A target today is almost a guess, like discounting 20 years of value down to now. The coming share unlock will create more tradable shares and likely some selling pressure. And original investors hedging their holdings is exactly what tends to turn into a buying opportunity. Thanks to our partners at Leverage Shares for the graphic.
Tom Lee Tracker (Not actually Tom)Share
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