Key Points

The SpaceX initial public offering generated major buzz on Wall Street and among everyday investors.
As anticipated, the stock climbed notably right after its IPO.
Investors often have brief focus, and it appears some have begun shifting attention elsewhere.
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Wall Street can be demanding. One moment a firm stands at the peak, and soon after it faces challenges. A key issue stems from investors possessing very brief focus periods. This factor matters if you hold or plan to purchase shares in Space Exploration Technologies Corp. (NASDAQ: SPCX), commonly called SpaceX. Here is the current situation.

The SpaceX coverage proved overwhelming

Attention surrounding the SpaceX initial public offering ran high. Major outlets across finance and local broadcasts all reported on it. The scale made sense because Elon Musk sought to raise more capital via IPO than prior efforts. He succeeded, securing $75 billion. Including the overallotment option for bankers, the total approached $86 billion.

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Another aspect stands out: the SpaceX IPO marked the start of several large offerings, including those expected from Anthropic and OpenAI. Thus SpaceX served as an early indicator of market capacity for major IPOs. The response proved positive, as SpaceX set its IPO at $135 per share yet opened higher and advanced further over the following days, reaching a peak increase near 50%.

Sentiment has changed toward SpaceX

Performance has declined since, with the stock showing only about 15% gain from the IPO price at present. SpaceX has pursued notable actions post listing, including a major all stock merger and bond issuance. The narrative evolved, yet probably not enough to explain the sharp reversal in share price.

More likely, investors shift quickly between trending opportunities. SpaceX now counts as prior news despite the recent IPO timing. (Ongoing tensions in the Middle East have regained focus.) This pattern occurs often with new listings. Prior to selling shares and joining the trend, review your original reasons for the purchase.

Did hype influence your SpaceX decision?

Should SpaceX represent a long term holding, emphasize company fundamentals over price movements. The core business likely remains stable enough to support a similar long term view. If the goal was rapid gains assuming SpaceX would deliver instant wealth, reconsider both the position and broader strategy.

As the saying notes, Wall Street offers no free opportunities. SpaceX operates as a loss making newcomer, yet the extended potential appears substantial if Elon Musk meets outlined targets. Realizing benefits will require extended commitment.

Should you buy stock in Space Exploration Technologies right now?

Before purchasing Space Exploration Technologies shares, review this:

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Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.