Did SpaceX Stock Deserve to Drop Today?

SpaceX stock dropped 6.5% on Thursday following a 9.3% decline on Wednesday after its historic IPO. However, two Wall Street analysts provided bullish outlooks: Arete initiated coverage with a buy rating and $401 price target (implying a $5.3 trillion market cap), while Oppenheimer raised its target to $250. Arete believes SpaceX could become the world's most valuable stock within a year, driven by Starlink's V3 satellites, while Oppenheimer highlights SpaceX's AI ambitions and its acquisition of Cursor.