With SpaceX Ready to Be Included in the Russell 1000 Index, Should You Buy the Vanguard Russell 1000 Growth Index (VONG) ETF?
It's one of the best-performing Vanguard ETFs.
With SpaceX Ready to Be Included in the Russell 1000 Index, Should You Buy the Vanguard Russell 1000 Growth Index (VONG) ETF?
Overview
Space Exploration Technologies (NASDAQ: SPCX), popularly known as SpaceX, finally went public in a blockbuster initial public offering (IPO) that exceeded its targets and raised about $86 billion. That's one for the books, and it's not likely to be surpassed any time soon.
There are some fierce opinions about the stock on all sides. Proponents will talk about how Elon Musk keeps changing the world and how the company offers incredible, literally other-worldly opportunities. Naysayers will point to the massive net loss and high valuation.
Details
Retail investors can make their own decisions about whether to buy the stock, but it becomes a murkier discussion when you include funds that plan to buy it. FTSE Russell, which owns the Russell brand and its indexes, has changed its rules to fast-track the inclusion of SpaceX stock. That means exchange-traded funds (ETFs) that track it will be compelled to buy the stock when it is added to the index after the market close on June 26, according to recently published reports.
Source
Originally published at www.fool.com.
