Wedbush Initiates SpaceX Buy Rating at $190 Target, but Stock Falls 7.8% on July 1

According to Barron's, Wedbush analyst Dan Ives on Wednesday (July 1) issued SpaceX's first buy rating with a $190 price target, valuing the company at $2.5 trillion. However, the stock declined 7.8% to $157.54 on the same day. The drop suggests investors may have expected a higher target price from the analyst, who is known as a major bull on technology stocks.
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