SpaceX Can Be Added to the Russell 1000 and Russell 3000 After Today -- Don't Take the Bait
The rewriting of several major index inclusion criteria has set retail investors up to be fleeced.
SpaceX Can Be Added to the Russell 1000 and Russell 3000 After Today -- Don't Take the Bait
Overview
On June 12, Elon Musk's SpaceX (NASDAQ: SPCX) cemented its name in the record books by more than doubling the largest-ever cash raise for an initial public offering (IPO) at $75 billion. It also closed out its first trading day with a valuation of roughly $2.1 trillion, placing it ahead of established trillion-dollar companies Broadcom and Tesla.
But SpaceX was rewriting record books long before it even went public. Thanks to several structural changes to major index inclusion, this artificial intelligence (AI) and space economy conglomerate can find its way into the Russell 1000 and Russell 3000 after today's (June 18) trading session. However, investors would be wise to keep their distance.
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Originally published at www.fool.com.
