With the SpaceX IPO Reshaping the Nasdaq, Is QQQ Still a Smart Investment Right Now?
SpaceX is taking the fast lane to inclusion in the Nasdaq-100, but concerns about what it will do to the index may be overblown.
Overview
In a controversial move, Nasdaq changed its eligibility rules for the Nasdaq-100 index, allowing Space Exploration Technologies (NASDAQ: SPCX) to join without the traditional seasoning period. The space company will be added to the index 15 trading days after its IPO, on July 7.
This means one of the most popular tech exchange-traded funds (ETFs), the Invesco QQQ Trust (NASDAQ: QQQ), will soon invest in SpaceX. There's been quite a bit of concern from investors about such a volatile stock getting fast-tracked, so let's see how large the SpaceX position will really be and if this means you should choose another ETF.
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Originally published at www.fool.com.