Why Did SpaceX Stock Drop Today?
Here's why inclusion in the Nasdaq-100 isn't giving SpaceX stock a pop today.
Overview
Space Exploration Technologies (NASDAQ: SPCX) was added to the Nasdaq-100 index before the market opened today, so investors might be surprised to see SpaceX shares fall. When a company's stock is added to an index, it can rise due to passive buying by mutual funds and exchange-traded funds (ETFs) that are required to hold the entire index.
So why were SpaceX shares down by 5.2% at 12:45 p.m. ET today?
Image source: The Motley Fool.
Details
Source
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.