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Why CFRA Holds a Sell Rating on SPCX
Description
CFRA's Keith Snyder says "there was a lot to like" in SpaceX (SPCX) earnings, but he points to a red flag in the company's capex spending levels. He also likes the "firm" computing power contracts SpaceX holds but he wants to hear if the company can grow "on its own without renting out excess capacity." On Starlink, Keith calls the subscriber growth "nothing short of spectacular." He addresses his firms Sell rating for SpaceX, admitting an internal debate between his inner nerd fandom and his analyst eyes.
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