SpaceX Stock Slides During Historic Nasdaq Debut As Broad Selloff Drags Down Rival Space Stocks

Key Stats for SpaceX Stock

• Price change for SpaceX stock: -7%
• $SPCX Stock Price as of Jul. 7: $149
• 52-Week High: $226
• $SPCX Stock Price Target: $198

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What Happened?

SpaceX (SPCX) stock dropped almost 7% on Tuesday, its very first day trading as part of the Nasdaq-100 index. It wasn’t alone. SpaceX is now trading below the price at which it debuted on Nasdaq.

Rocket Lab tumbled 10%, while Intuitive Machines and AST SpaceMobile both fell more than 6%. A broad selloff across space stocks dragged the whole sector lower.

The timing is notable because SpaceX just became one of the fastest companies ever added to the Nasdaq-100, joining less than a month after its blockbuster IPO on June 12.

Nasdaq confirmed the company qualified for inclusion after the market closed on a Friday, with index funds set to begin buying shares before SpaceX officially joined the benchmark on July 7.

This matters because more than $800 billion in assets track the Nasdaq-100, including the hugely popular Invesco QQQ Trust.

SpaceX is expected to enter the index with a weighting under 1%, but because its publicly tradable float is small compared to its total market value, even that modest weighting could require meaningful buying from passive index funds in the days ahead.

SpaceX got this fast-track treatment thanks to Nasdaq’s newly adopted rules, which let large IPOs qualify for the index after just 15 trading days instead of the months-long wait that used to be standard.

Worth noting, though, S&P Dow Jones Indices declined to create a similar fast-track process for the S&P 500, so SpaceX doesn’t qualify for that index yet due to separate profitability and seasoning rules.

Despite today’s drop, Wall Street sentiment toward SpaceX stock remains overwhelmingly bullish. A wave of major banks initiated coverage this week, nearly all with buy-equivalent ratings.

• Morgan Stanley set the highest price target at $300, calling SpaceX a company that “combines near-monopoly launch economics, the world’s largest LEO satellite network, and a fast-scaling AI infrastructure business.”
• Deutsche Bank, at $255, described SpaceX as building “foundational infrastructure across transportation, connectivity, and AI.”
• Other targets ranged from JPMorgan’s $225 to Goldman Sachs’ $205, with firms like Bank of America, RBC, Macquarie, UBS, Bernstein, and Mizuho all landing in that range as well.

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What the Market Is Telling Us About SpaceX Stock

Today’s pullback in SpaceX stock looks more like broad market weakness hitting the whole space sector than any company-specific problem.

When Rocket Lab, Intuitive Machines, and AST SpaceMobile all fall by similar or larger amounts on the same day, that points to sector-wide selling pressure rather than concerns unique to SpaceX.

At the same time, the contrast between today’s stock drop and this week’s flood of bullish analyst coverage is striking.

Firms across Wall Street are betting big on SpaceX’s long-term potential in launch, satellite connectivity, and AI infrastructure, even as the stock itself is trading below its opening price.

That gap suggests investors may be more focused on near-term index mechanics and broader market jitters than on the long-term thesis analysts are pitching for SpaceX stock.

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Disclaimer:

Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!