SpaceX (SPCX) Analyst Issues Sell Rating with $100 Price Target

SpaceX (SPCX) shares closed at $134 on August 20, down 6% over five days and 17% year-to-date, far from a high of $225.64 post-IPO in June. DZ Bank analyst Markus Leistner initiated coverage with a Sell rating and a $100 price target, indicating a potential 25% decline. SpaceX reported $18.37 billion in capital expenditures in Q2, mostly for AI infrastructure, and also encountered a loss of $541 million despite revenue gains. This warning, combined with share dilution from a $60 billion acquisition, raises concerns for current investors about the future value of the stock.