A $5,000 Investment in SpaceX at Its Nasdaq-100 Debut Would Be Worth This Much Today
SpaceX was added to the tech-heavy large-cap index on July 7.
Overview
On June 12, Elon Musk's Space Exploration Technologies (NASDAQ: SPCX) completed the largest initial public offering (IPO) in history. SpaceX stock initially opened on the Nasdaq at $150, valuing the company at north of $2 trillion. Just weeks later -- on July 7 -- the company was fast-tracked into the Nasdaq-100 index.
Let's analyze how SpaceX stock has held up since joining the Nasdaq-100 and assess what a $5,000 investment made at that time is worth today.
Details
The Nasdaq-100 is an index that includes around 100 of the largest nonfinancial companies listed on the Nasdaq Exchange, using a modified market capitalization weighting system. Investors can track the index through exchange-traded funds (ETFs) such as Invesco QQQ, making inclusion an event that triggers automatic buying from passive funds.
Source
Originally published at www.fool.com.