SpaceX stock down by 16%: Will your mutual fund investments take a hit?
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- SpaceX stock fell about 3% to $150 in pre-market trading, heading for a fourth straight day of losses after Monday's 16% plunge erased roughly $400 billion in market cap—the second-largest one-day loss on record behind only Nvidia's ~$590 billion drop last year.
- SpaceX has shed more than $600 billion in value over three consecutive losing sessions, wiping out gains from its record $75 billion IPO the week prior.
- Nasdaq changed its index rules to fast-track SpaceX into the Nasdaq-100—dropping the 10% public-float requirement and cutting the waiting period for new listings to just 15 trading days.
- SpaceX is expected to carry a weight of roughly 0.53% to 0.6% in the Nasdaq-100, meaning even a sharp decline will have only a marginal effect on the Net Asset Value of index funds and ETFs tracking the benchmark.
- Indian retail investors cannot buy SpaceX shares directly; their only route to exposure is through Nasdaq-100 index funds and ETFs, where SpaceX will sit alongside Apple, Microsoft, Nvidia, Amazon, Alphabet, and Meta.
- Apple alone accounts for 7% to 11% of the Nasdaq-100's weight, illustrating how small SpaceX's sub-1% footprint will be by comparison.
Why it matters: For Indian investors holding Nasdaq-100 index funds, the headline-grabbing $400 billion SpaceX wipeout is largely noise—at roughly 0.5% index weight, any portfolio impact amounts to a rounding error, and the more durable change is Nasdaq's rule overhaul that lets freshly IPO'd giants enter the benchmark within weeks rather than months.
Ask SkimNews
