Is SpaceX’s Stock Unlock the Entry Point? Morgan Stanley Insists on a $300 Price Target by Mid Next Year
On August 7, SpaceX saw the first wave of share unlocking on Thursday. The market expected the large influx of tradable shares to push down SpaceX's stock price, but the stock recorded a slight increase on Thursday.
Compared to pessimists, Adam Jonas, an analyst at Morgan Stanley, believes that the end of SpaceX's share lock-up period is an entry point, rather than a bearish warning. He considers SpaceX a rare generational composite enterprise capable of converting energy on a massive scale into collective intelligence, possessing the resources to build a computing power business that leads the industry in energy efficiency, cost, and speed. Jonas maintains his overweight rating on SpaceX and predicts the target price will reach $300 by mid-next year, which could mean nearly doubling from current levels.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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