SpaceX Closes Up 19%, Fast-Tracked into Russell and MSCI Indexes
SPCX•SpaceX debuted on Nasdaq at $150, climbed 30% intraday, and closed 19% higher, pushing its market cap above $2.2 trillion. FTSE Russell will add SpaceX to Russell 1000 and Top 200 on June 26, with MSCI following on June 29, boosting passive fund demand.
1. First-Day Trading Performance
SpaceX debuted on Nasdaq at $150, climbed 30% intraday, and closed 19% higher, pushing its market cap above $2.2 trillion on its first trading day.
2. FTSE Russell Fast-Track Inclusion
FTSE Russell will add SpaceX to the Russell 1000 and Top 200 on June 26 under its fast-entry rules, which allow large IPOs meeting size thresholds to enter indexes after five trading days.
3. MSCI Addition and S&P 500 Exclusion
MSCI will include SpaceX in its standard and large-cap indexes on June 29, while S&P Dow Jones Indices has declined quick inclusion in the S&P 500 pending GAAP profitability and seasoning requirements, creating divergent passive demand drivers.
