India, Aug. 16 -- SpaceX started trading publicly on June 12 with an IPO price of $135 per share. The stock opened at $150 and quickly climbed to $225 as investors rushed to buy shares. But the early excitement did not last. The stock has now fallen back to around $150, nearly 35% below its early high after about two months of trading.

Morgan Stanley has given SpaceX a $300 price target. The investment bank believes investors are not fully valuing SpaceX's artificial intelligence business. Analysts led by Adam Jones said the value being given to SpaceX's AI business at the current stock price is "extremely conservative," according to a Morgan Stanley research note. The analysts believe the AI business could eventually be worth much more ...