Is SpaceX Your Ticket to Becoming a Millionaire?

Space Exploration Technologies (NASDAQ: SPCX) has lost almost $1 trillion in notional value since its stock peaked in the initial days following its initial public offer (IPO). As of this writing on July 16, the stock (also known as SpaceX) is trading near its initial public offering (IPO) price of $135, about $133 the last time I checked.If you watched this stock hit about $201 at the end of its third trading day, you might be wondering if this is the chance to buy in. Raymond James, which co-managed SpaceX's IPO, recently set a $800 price target on the space stock. Even the average price target, about $244, implies 83% upside. Even if the $800 price target materialized, it would take a very large investment for SpaceX to mint new millionaires: about $166,250 at today's price. Obviously, not every investor has six figures to invest with, nor would it be prudent to put that much into a stock that still trades at about 100 times sales. The question then becomes: Even if SpaceX alone can't make you a millionaire, can it be one of several stocks that you pick that contributes to millionaire status?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool