SpaceX Shares Drop After IPO, But Morgan Stanley Eyes $300

SpaceX shares have dropped 32.6 percent since their June 12 initial public offering. The stock climbed as high as $225.64 during its debut phase, but recently traded down to $142.23 as of September 1. This pullback highlights the volatility often seen in high profile public listings as early momentum cools down.

Despite the price slide, Morgan Stanley analyst Adam Jonas is keeping an Overweight rating on the company alongside a bullish $300 price target. This target suggests a potential upside of over 100 percent from current levels. The optimistic outlook is largely driven by the company's massive planned $100 billion Starbase complex.

Traders and investors will want to watch how broader equity markets treat high growth aerospace assets in the coming weeks. While short term price action shows weakness, long term confidence from institutional analysts keeps the conversation active for anyone following major market valuations.