SpaceX Drops Below IPO Price in Nasdaq-100 Debut
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- SpaceX shares stumbled on their Nasdaq-100 debut (per WSJ headline), dropping below the stock's IPO opening price (per Yahoo Finance headline) despite a flood of bullish Wall Street ratings landing the same period.
- Bloomberg reports SpaceX's biggest bull sees the company's valuation soaring above $10 trillion, while SpaceX also received 14 new buy ratings (per additional headline).
Why it matters: SpaceX's rocky first day as an index component creates immediate tension between mechanical index-fund selling pressure and overwhelmingly bullish analyst coverage, including a $10 trillion valuation target from its most aggressive bull.
