However, what followed was the company’s first-ever earnings report and earnings call as a public company, as well as volatility in the days that preceded and followed the event. SpaceX stock, at one point, fell well below its IPO price of $135/share, but has since managed to take back some of its lost value.
While the stock’s high highs and low lows have attracted many investors’ opinions, Ross Gerber, the co-founder of investment firm Gerber Kawasaki, shared his insights into what drives SpaceX in a conversation with Benzinga. Here’s what he had to say:
Investors Overpaying For the Elon Premium
Gerber shared that SpaceX’s IPO reflected a typical post-IPO scenario when companies were "trying to find a market," adding that some of his firm’s clients had already "liquidated" part of SpaceX stock.
"When you look at the stock market today, it’s hard to see a lot of companies innovating like SpaceX," Gerber said, outlining that some investors were "willing to pay a very high price to have that type of innovation."
