Tom Sosnoff Says SPCX Stock Will Fall Below Its IPO Price, Explains Why He Sold SpaceX 'At 158'

Tom Sosnoff said Space Exploration Technologies Corp. (NASDAQ:SPCX) stock could fall below its IPO price to under 135, after he sold his allocation at 158. The article is primarily a bearish commentary on post-IPO price action and investor positioning rather than new fundamental information. Market impact is likely limited, but the call could add near-term pressure to sentiment around the stock.

Analysis

Tom Sosnoff said Space Exploration Technologies Corp. (NASDAQ:SPCX) stock could fall below its IPO price to under 135, after he sold his allocation at 158. The article is primarily a bearish commentary on post-IPO price action and investor positioning rather than new fundamental information. Market impact is likely limited, but the call could add near-term pressure to sentiment around the stock.