As of June 12, Space Exploration Technologies (NASDAQ: SPCX) — better known as SpaceX — is officially a publicly traded company.
Elon Musk has become a trillionaire, and retail investors are scrambling to add the stock to their portfolios
The stock closed the first trading day up roughly 20% from its initial public offering (IPO) price, and as of Tuesday afternoon, its market cap was around $2.5 trillion. That means it will be influential as it starts being added to ETFs. While the easiest way to get exposure to SpaceX is simply to buy the stock, some ETFs — based on their index methodology — can add it relatively quickly.
Others will not. S&P Global, the overseer of the S&P 500 index, said that it won’t make an exception to its 12-month waiting period rule before SpaceX can be considered for entry. That means SpaceX and presumably Anthropic and OpenAI won’t be able to join the index for at least a year after they go public.