SpaceX Might Soon Be Joining This Ultra-Popular Vanguard ETF. Is It a Buy Right Now?
Even though it will have to wait to get into the S&P 500, SpaceX could show up in a lot of major ETFs in as few as five trading days.
SpaceX Might Soon Be Joining This Ultra-Popular Vanguard ETF. Is It a Buy Right Now?
Overview
As of June 12, Space Exploration Technologies (NASDAQ: SPCX) -- better known as SpaceX -- is officially a publicly traded company. Elon Musk has become a trillionaire, and retail investors are scrambling to add the stock to their portfolios. The stock closed the first trading day up roughly 20% from its initial public offering (IPO) price, and as of Tuesday afternoon, its market cap was around $2.5 trillion. That means it will be influential as it starts being added to ETFs.
While the easiest way to get exposure to SpaceX is simply to buy the stock, some ETFs -- based on their index methodology -- can add it relatively quickly. Others will not.
Details
S&P Global, the overseer of the S&P 500 index, said that it won't make an exception to its 12-month waiting period rule before SpaceX can be considered for entry. That means SpaceX and presumably Anthropic and OpenAI won't be able to join the index for at least a year after they go public.
Source
Originally published at www.fool.com.
