SpaceX's stock closed at $115.07 on July 24th, down 2.68% and nearly 15% below its $135 IPO offering price. Morgan Stanley analyst Adam Jonas bucked the trend, reiterating an "overweight" rating and a $300 price target, arguing the selloff is excessively pessimistic.
SpaceX's post-IPO decline tests investor appetite for AI-linked companies, while Morgan Stanley's bullish call signals continued belief in AI's long-term value.