Analysts suggest SpaceX’s Nasdaq 100 addition triggered a selloff as investors reassess AI and aerospace valuations.
SpaceX’s recent inclusion in the Nasdaq 100 may have contributed to a broader market selloff, according to market commentary. Shares of the aerospace firm, trading under SPCX, have declined 7% from their first-day closing price of $160.95 but remain $15 above their $135 IPO price.
Following the end of the initial quiet period, firms like Susquehanna and Keybanc initiated coverage with neutral or sector weight ratings. Analysts noted that SpaceX’s strengths, including AI growth and rocket launch dominance, were already priced into the stock, suggesting limited near-term upside.
Market observers pointed to the timing of SpaceX’s Nasdaq 100 addition as a potential catalyst for the selloff, with some expecting lingering effects on trading sentiment.