Is SpaceX a Better Buy Than the 2 "Magnificent Seven" Stocks It Has Surpassed in Market Cap?
SpaceX's debut as a public company is reshuffling the ranks of the world's most valuable tech stocks.
Overview
The "Magnificent Seven" are some of the largest tech-focused companies by market cap: Nvidia, Alphabet, Apple, Microsoft, Amazon, Meta Platforms (NASDAQ: META), and Tesla (NASDAQ: TSLA).
But Space Exploration Technologies (NASDAQ: SPCX) is making the case for why the Magnificent Seven as a category may be outdated.
Details
Although in its brief period on the public market, SpaceX briefly surpassed Microsoft and Amazon in market cap, the stock has since fallen by 31% from its intraday high. It closed at $154.60 per share on June 22 -- up just 3% from its opening trading price of $150.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.