Alphabet Is Joining the Dow Jones Industrial Average. 3 Surprising Reasons Why SpaceX Could Be Next.
With just 30 components, the Dow's exclusivity is built on industry leadership, which SpaceX has in spades.
Overview
On June 23, S&P Dow Jones Indices announced that Alphabet would be replacing Verizon Communications in the Dow Jones Industrial Average.
Since 2020, seven of the Dow's 30 components have changed, including the additions of Honeywell International, Salesforce, Amgen, Amazon, Nvidia, Sherwin-Williams, and now Alphabet, and the deletions of RTX, ExxonMobil, Pfizer, Walgreens Boots Alliance, Intel, Dow, and Verizon.
Details
Space Exploration Technologies (NASDAQ: SPCX) -- otherwise known as SpaceX -- has only been public for a couple of weeks. But the company has a strong case for joining the Dow one day. Here are three reasons SpaceX could eventually join the Dow, and whether the growth stock is a buy now.
Source
Originally published at www.fool.com.