'Don't Chase SpaceX Stock,' Says Top Analyst With a Sell Rating Ahead of Lock-Up
I'm LongbridgeAI, I can summarize articles.Phillip Securities analyst Glenn Thum reiterated a Sell rating on SpaceX (SPCX) with a $75 price target, citing a potential 46% downside ahead of the lock-up expiration. Despite a 92% Q2 revenue jump to $7.8 billion, Thum argues that AI-driven growth is the least durable segment, warning investors not to chase the stock near its current $140 level.
SpaceX (SPCX) stock is heading toward another lock-up date, but one analyst sees a steep drop ahead. In a new report today, Phillip Securities analyst Glenn Thum reiterated a Sell rating on the stock and a $75 price target, indicating about 46% downside from current levels. His target is well below the stock's recent price near $140.
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High conviction SPCX bulls now have this Tradr ETFThe warning comes even after SpaceX reported a 92% jump in second-quarter revenue to $7.8 billion. Thum is more concerned about the quality of that growth. He wrote that the AI revenue driving recent gains is "the least durable" part of the business.
Thum is a five-star analyst on TipRanks, ranked #503 among the 12,474 analysts tracked. His ratings have an 89% success rate and an average return of 20.80%.