SpaceX’s inclusion in the Nasdaq-100 has not boosted its stock, with shares falling 17% since July 7 despite historic trends.
SpaceX (SPCX) was added to the Nasdaq-100 on July 7, but its shares fell 17% through July 17, defying expectations of a short-term rally. The stock’s decline contrasts with ETF demand, as it now holds a 1.1% weight in the Invesco QQQ Trust, a top-traded ETF.
Historically, only six of the last 21 stocks added to the Nasdaq-100 rose in their first week, with an average decline of 3.8%. SpaceX underperformed this trend, dropping 8.9% in its first week. However, stocks typically rebound after one month, averaging a 3.6% gain, and 6.3% after three months.
The pattern suggests potential upside for SpaceX, though past performance does not guarantee future results. Market conditions and company-specific factors may influence its trajectory differently.