SpaceX shares still trade below the $150 price at which they opened in June, even after a rebound from their lows. A Motley Fool analyst argues that Anthropic investors should treat this as a warning, citing the general history of IPOs rather than SpaceX alone.
SpaceX stock opened at $150 per share on June 12, its first day of trading, and it now sits below that level. The slide comes as Anthropic prepares for its own listing, and Motley Fool contributor Will Healy asks whether investors should read SpaceX's record as a signal.
SpaceX surged, then gave back its gains
After the debut, the shares rose above $225 in their first few days. They then pulled back significantly to a low in the vicinity of $108, and the stock has since rebounded somewhat but remains under its opening price.
Anthropic released its S-1 form this week, the filing companies must make with the Securities and Exchange Commission before an IPO. Healy writes that investors showed similar enthusiasm before the SpaceX debut.
Why Healy sees a warning for Anthropic
Healy says Anthropic and SpaceX have both spent heavily on artificial intelligence and infrastructure. Market concerns about the size of such outlays, and whether they will deliver profitable returns, have spurred sell-offs in other AI stocks.
Lock-ups add a second pressure. During its first year as a public company, Anthropic will go through periodic lock-up expirations, and each one makes more shares held by pre-IPO stakeholders eligible for sale on the Nasdaq. That can increase selling pressure and push prices down.
Timing matters as well. Healy notes that companies tend to go public during bull markets, when valuations are higher, which leaves early IPO investors more exposed to a sector-specific downturn or a broad market decline.
Healy concludes that the long-term future of Anthropic appears bright, but investors may want to avoid buying immediately after it goes public.
Source: The Motley Fool
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