$1,000 invested in SpaceX stock when Elon Musk said it was insane opportunity is now worth

Though SpaceX (NASDAQ: SPCX ) stock’s time as a public company has not, by press time on August 7, been triumphant, Elon Musk himself appears to believe that recent lows represent an ‘insane opportunity.’ Specifically, early on August 3 and about a day before the company unveiled its first-ever quarterly earnings , an X user going under Gali opined that SPCX trading at $108.37 would eventually prove to have been an ‘insane opportunity’ to buy. The world’s first trillionaire seemingly agreed , replying with a simple ‘I think so.’

Meanwhile, SpaceX stock ended the latest regular session at $114.92 after a 6.14% daily gain. Considering the move, taking Musk’s word and putting $1,000 in SPCX early on August 3 would have led to $60.44 in profit and a position worth $1,060.44, making it already an ‘opportunity.’

Still, the original X post made it apparent the user meant $108,37 would have been an excellent opportunity to accumulate for the long term. According to Wall Street’s estimates , the notion might easily be correct. Should SpaceX stock reach the highest 12-month price target of $800, it would mean that $1,000 purchase turned into a $7,382.12 position. Furthermore, even if it only climbs to the average forecast of $232.11, the investment would have led to a respectable $2,141.83.

On the flip side, should Morningstar’s more bearish average target of roughly $70 come true, the $1,000 SPCX share purchase would have turned into a significantly lower $645.94.

Lastly and unfortunately, it remains somewhat difficult to gauge the more likely scenario for SpaceX stock in the long-run. On the one hand, some of the largest institutions in the world appear to be expecting the company to grow its sales more than a hundredfold in slightly over a decade. Similarly, Elon Musk himself is certainly vocally confident about his space, satellite internet, social media, and artificial intelligence ( AI ) company and already oversaw a car manufacturer grow its valuation well above $1 trillion – far above its peers. On the other hand, SpaceX’s roadmap appears so ambitious that it might be unrealistic – especially once the goals presented in the S-1 are accounted for – and the world’s first trillionaire has both a vested interest and a history of underdelivering . Finally, the fact that overarching organizations behind Wall Street analysts can simultaneously serve as underwriters might also be clouding their judgement , especially after the SEC relaxed oversight rules in recent years.