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00:02SpaceX's entry into major stock indexes is pushing some Elon Musk critics to reshape
00:06their portfolios to avoid exposure to the company, according to Bloomberg.
00:11SpaceX is set to join the Nasdaq 100 after earlier additions to FTSE Russell and MSCI
00:17indexes, triggering billions of dollars in mechanical buying from index funds.
00:21Its market capitalization reached about $2.1 trillion after its June 1PO,
00:26though shares later fell as much as 24%.
00:29Financial advisors said clients have asked how to avoid SpaceX as it enters passive portfolios,
00:35with some moving money into international funds, or using direct indexing to exclude
00:40Musk-controlled companies.
00:42Investors have posted on Reddit in recent weeks about ways to avoid SpaceX exposure in their
00:46portfolios, sparking heated discussions across investing and anti-Musk forums.
00:51For all things money, visit Benzinga.com.
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