SpaceX Gains $4.3B Passive Inflows, Wedbush Initiates Outperform with $190 Target
SPCX sits 17% above its 52-week low of $147.11.
Summary
SpaceX is set to receive an estimated $4.3 billion in passive inflows following its inclusion in the Nasdaq-100 index. This news comes as Wedbush initiates coverage on the stock with an Outperform rating and a $190 price target, indicating potential upside from the current $172.39. For a recently IPO'd company like SpaceX, these inflows provide a demand floor, and new analyst coverage offers a fresh, positive valuation perspective after its massive public debut and recent $60 billion acquisition of Anysphere.
At the time of this announcement, SPCX was trading at $172.39 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.3T. The 52-week trading range was $147.11 to $225.64. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.