SpaceX Just Joined the Nasdaq-100. Is It Time to Buy?
The company's inclusion in the index failed to ignite much of a rally in the stock.
Overview
Space Exploration Technologies (NASDAQ: SPCX), better known as SpaceX, just joined the Nasdaq-100 index. That's a big deal because now every investment vehicle that tracks the index has to own shares of SpaceX. This creates a bit of a buying spree, as these indexes have to buy the stock, which can send share prices skyrocketing in some instances.
However, that hasn't been the case as SpaceX's stock declined over the past few days. But can that turn around? Let's take a look.
Image source: The Motley Fool.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.