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Story summary
- SpaceX shares fell to $110.85, 18% below the IPO price, after the $86 billion mid-June offering debuted.
- Morgan Stanley analyst Adam Jonas said investors expect the stock to fall to $100 when the lockup expires, valuing AI at zero.
- Jonas set a $300 target, with over half from AI, ranking third among Bloomberg’s 33 analysts.
- Nearly 80% of analysts recommend buying, with a target of $232, implying the stock could double.
