Elon Musk's Space Exploration Technologies (NASDAQ: SPCX) went public in June. Its stock quickly soared to a peak of $225 as investors clamoured to buy a slice of the company, but that enthusiasm quickly faded, and it has since lost 40% of its value. Its valuation might explain why. SpaceX still has a market capitalization of $1.83 trillion as I write this (Oct. 31), so based on the company's trailing 12-month revenue of $32 billion, its stock trades at a sky-high price-to-sales (P/S) ratio of 57, making it eight times as expensive as the Nasdaq-100 index. Therefore, although SpaceX is forecasting substantial revenue growth over the next few years, more downside might be on the horizon for its stock in the near term. I think investors can find better value elsewhere, so if I had $1,000 to deploy today, here's why I'd buy Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) stock instead.
CryptoAlerta — análise de criptomoedas e mercado em tempo real