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00:02SpaceX shares fell 6.8% to $149.47 on their first day in the Nasdaq 100 as tech stocks
00:11declined broadly, according to the Wall Street Journal. The stock remained above its $135 IPO
00:17price but fell below the $150 level where shares began trading on June 12th and down from a peak
00:23above $200. The drop disappointed investors who had expected index inclusion to lift demand with
00:29mutual funds and ETFs managing roughly $800 billion expected to buy shares to mirror the
00:33Nasdaq 100. Analysts warned that anticipated buying may already have been priced and after
00:39shares rose nearly 6% last week. Deutsche Bank set a $255 price target, citing reusable rockets,
00:47Starlink, and potential AI infrastructure in space. SpaceX has a $2 trillion market value,
00:54more than $100 billion in cash and investment-grade credit ratings. However,
00:58investors remain uncertain about how much cash the company will use and how much debt it may
01:03take on in the future. For all things money, visit Benzinga.com.
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