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HSBC Warns SpaceX Stock Is Overvalued | Durham News
HSBC just slapped a “hold” on SpaceX stock — and it’s sparking wild debate. The bank’s price target? $115 — below both current trading levels and SpaceX’s IPO price. Even with a generous 2x innovation premium for Elon Musk’s track record, HSBC sees the stock as fully priced. Their base case? $115. Their best-case? $293 — but that’s not their forecast. What’s really alarming? SpaceX won’t turn a profit until 2030, needing $106 billion in cash to get there. HSBC is skeptical about SpaceX’s AI push, calling its Grok model and orbital data centers lagging behind Amazon and Microsoft. They…
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