Space Exploration Technologies Corp.
(NASDAQ:SPCX) is nearly back to its IPO price of $135/share after hitting a high of around $225 per share in recent weeks.
However, the commercial space flight giant's decline has not surprised investors.
Gary Black Says SPCX Below $100 Will Get Him 'Excited' Quoting a post he made on X in which the investor had said that SpaceX would not become profitable until 2027 and he failed to see why people were investing in the company.
Read Also: Elon Musk Says SpaceX Will Fly Orbital Data Centers Next Year—Jim Chanos Isn't Buying It "IPO should not have been priced at $135," Black said in his post on Wednesday, outlining concerns with SpaceX's valuation.
