How to Invest in SpaceX Stock After Its Nasdaq-100 Debut
This red-hot IPO fizzled out after its inclusion in the index.
Overview
SpaceX (NASDAQ: SPCX), which went public in the biggest IPO in history on June 12, joined the Nasdaq-100 on July 7. That inclusion, driven by Nasdaq's (NASDAQ: NDAQ) fast-track rules for mega-IPOs, forced its index-based exchange-traded funds (ETFs) to buy the stock.
Yet SpaceX's stock has actually declined 17% since its inclusion in the Nasdaq-100, and it's dropped below its IPO price of $135 per share. Let's see why SpaceX's addition to the index failed to drive its stock higher, and if its post-IPO pullback represents a buying opportunity.
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Originally published at www.fool.com.
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