SpaceX: To the moon for investors or a bumpy ride? Here's what experts say.
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- Days after Elon Musk's Space X made its debut on the Nasdaq, much ink has been spilt over the company, the valuation, and its place in the burgeoning tech space.
- Some views that the trillion-dollar IPO were overvalued were swirling ahead of SpaceX's debut.
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Days after Elon Musk's Space X made its debut on the Nasdaq, much ink has been spilt over the company, the valuation, and its place in the burgeoning tech space. The company's stratospheric IPO has made founder Elon Musk the world's first trillionaire, and if the first day's price action is anything to go by, investors are still very optimistic. SpaceX closed at $161, jumping 19% from its offer price of $135 per share.
Speaking to CNBC's "Squawk Box Asia," Steve Westly, founder and managing partner of The Westly Group and a former board member of Musk's Tesla, noted that the company attracted a lot of retail investors, but added that it have to deliver results, and fast.