Key facts
- SpaceX's stock price fell 2.1% to $151.50.
- NASA selected SpaceX to launch the StarBurst satellite mission.
- The StarBurst mission is scheduled for no earlier than 2028.
- SpaceX's Nasdaq-100 weighting could increase from 1.28% to 2.82%.
- Potential passive fund purchases for the Nasdaq-100 rebalance are estimated between $15.5 billion and $22 billion.
SpaceX's stock price (SPCX) experienced a decline of over 2% to $151.50, despite a recent contract win from NASA for its StarBurst satellite mission. The mission, scheduled for launch no earlier than 2028, reinforces SpaceX's position in the commercial launch market and adds another government-backed project to its pipeline.
NASA selected SpaceX under its Venture-Class Acquisition of Dedicated and Rideshare launch services contract. The StarBurst spacecraft will share a Falcon 9 rocket launch with other payloads. While this development may not immediately boost the stock price, investors are evaluating its long-term impact.
Market attention has also shifted to SpaceX's upcoming Nasdaq-100 index rebalance. The company was added to the index in July, and its initial weighting was constrained by limited publicly available shares. With more shares now available, pro forma Nasdaq data suggests SpaceX's weighting could increase from approximately 1.28% to 2.82%. Market estimates indicate this adjustment could necessitate between $15.5 billion and $22 billion in purchases from passive funds.
Some market participants are also anticipating a potential merger announcement between Tesla and SpaceX, though odds remain low. Experts like Cathie Wood remain optimistic about SpaceX's long-term growth.