Though SpaceX (NASDAQ: SPCX) stock’s time as a public company has not, by press time on August 7, been triumphant, Elon Musk himself appears to believe that recent lows represent an ‘insane opportunity.’
Specifically, early on August 3 and about a day before the company unveiled its first-ever quarterly earnings, an X user going under Gali opined that SPCX trading at $108.37 would eventually prove to have been an ‘insane opportunity’ to buy.
The world’s first trillionaire seemingly agreed, replying with a simple ‘I think so.’
Meanwhile, SpaceX stock ended the latest regular – Thursday, August 6 – session at $114.92 after a 6.14% daily gain.
Considering the move, taking Musk’s word and putting $1,000 in SPCX early on August 3 would have led to $60.44 in profit and a position worth $1,060.44, making it already an ‘opportunity.’
How much can $1,000 SpaceX stock August investment grow?
Still, the original X post made it apparent the user meant $108,37 would have been an excellent opportunity to accumulate for the long term. According to Wall Street’s estimates, the notion might easily be correct.
Should SpaceX stock reach the highest 12-month price target of $800, it would mean that $1,000 purchase turned into a $7,382.12 position. Furthermore, even if it only climbs to the average forecast of $232.11, the investment would have led to a respectable $2,141.83.
On the flip side, should Morningstar’s more bearish average target of roughly $70 come true, the $1,000 SPCX share purchase would have turned into a significantly lower $645.94.
Can SpaceX stock hit $800 in 2027?
Lastly and unfortunately, it remains somewhat difficult to gauge the more likely scenario for SpaceX stock in the long-run. On the one hand, some of the largest institutions in the world appear to be expecting the company to grow its sales more than a hundredfold in slightly over a decade.
Similarly, Elon Musk himself is certainly vocally confident about his space, satellite internet, social media, and artificial intelligence (AI) company and already oversaw a car manufacturer grow its valuation well above $1 trillion – far above its peers.
On the other hand, SpaceX’s roadmap appears so ambitious that it might be unrealistic – especially once the goals presented in the S-1 are accounted for – and the world’s first trillionaire has both a vested interest and a history of underdelivering.
Finally, the fact that overarching organizations behind Wall Street analysts can simultaneously serve as underwriters might also be clouding their judgement, especially after the SEC relaxed oversight rules in recent years.
Featured image via Shutterstock
