Meme stock, growth stock, or something else entirely? SpaceX stock is set for Nasdaq addition on July 7.

📈 Nasdaq 100 Calls, Stock Shrugs

  • SpaceX is officially joining the Nasdaq 100 on July 7, a milestone that usually gives stocks an extra lift as index-tracking funds prepare to buy shares. But not this time. The stock was up 1% pre-market Monday.
  • Shares swung near their first-day opening price during Friday's session before recovering late to close at $153.23 — up just 23 cents. After one of the , the stock appears to be catching its breath.
  • The weekly picture was less flattering. SpaceX finished down 17% over the past five sessions, suggesting that the post-IPO euphoria has cooled and traders are becoming a bit more selective with their rocket fuel.

💰 Passive Money Is Coming

  • Joining the Nasdaq 100 is big news because exchange-traded funds (ETFs) and mutual funds that track the index are required to own the stock. Those automatic purchases are known as passive inflows — money that follows an index rather than picking individual winners.
  • JPMorgan estimates SpaceX's addition could attract roughly $4.3 billion in passive investment. Whether that creates lasting demand or just a short-term pop (or nothing) remains one of the biggest questions surrounding the stock.
  • Nasdaq has also relaxed several index-entry rules in recent years, including requirements around profitability, trading history and public float, making it easier for newly listed growth companies to join benchmark indexes sooner.

🚀 S&P 500 Must Wait

  • One major milestone remains out of reach. S&P Global said it will not consider SpaceX for inclusion in the S&P 500 until the company has traded publicly for at least 12 months, keeping it out of Wall Street's flagship index for now.
  • SpaceX has already become a cautionary tale for other AI giants eyeing the public markets. According to a New York Times story, OpenAI is considering delaying until next year after watching SpaceX's blockbuster debut turn into a rollercoaster just a week later.
  • The debate continues: meme stock, growth stock or future blue chip? The market seems undecided. A Nasdaq 100 promotion is impressive, but investors appear more interested in consistent earnings and a steadier chart than another headline-grabbing milestone.