Why Did SpaceX Stock Drop Today?
Yahoo Finance ·
Space Exploration Technologies ( SPCX 5.20% ) was added to the Nasdaq-100 index before the market opened today, so investors might be surprised to see SpaceX shares fall. When a company's stock is added to an index, it can rise due to passive buying by mutual funds and exchange-traded funds (ETFs) that are required to hold the entire index. So why were SpaceX shares down by 5.2% at 12:45 p.m. ET today? The Nasdaq-100 tracks the 100 largest non-financial companies listed on the Nasdaq Stock Market exchange . But even the funds and ETFs that buy SpaceX stock once it's on the exchange aren't really buying a large quantity of the company. Consider this: SpaceX raised about $86 billion from its public share offering. But the company was valued at $1.8 trillion at the IPO price. That's less than 5% of the company available to the public. Elon Musk owns much of the balance, maintaining about 46% ownership. Other early investors, institutions, and employees own the rest.
DYAX Investor Sentiment
Bullish (Long) 67% · Bearish (Short) 33%
392 participants
Related News
- SpaceX put options signal hedging, not liquidation: MDP’s Dennis Davitt
- Broadcom Stock Drops After Bank Downgrades AI Chip Giant on Valuation
- Bed Bath & Beyond loses appeal to reopen "short swing" case against Hudson Bay Capital Management
- Update: Chip Stocks Weigh on Equities Intraday; Oil Rises on Hormuz Tensions
- First Solar raised to Buy at Deutsche Bank as recent sharp decline opens opportunity
- SpaceX Stock and the Nasdaq-100: What History Tells Us About Potential Returns After July 7