SpaceX stock fell sharply on July 7 after its first trading day inside the Nasdaq-100 failed to support buying interest. SPCX closed near $149.47, down about 6.8%, and slipped below the $150 level where trading began on June 12. The move came even as investors expected index-tracking funds to boost demand following the Nasdaq-100's entry.
SpaceX Stock Price Falls After Nasdaq-100 Inclusion
SpaceX joined the Nasdaq-100 on July 7, only weeks after its public market debut. The inclusion placed the company among the largest non-financial stocks on Nasdaq.
However, the stock failed to hold gains after the index event. Investors appeared to sell after the expected catalyst passed, while broader weakness across growth stocks also weighed on sentiment.
The decline pushed SPCX below $150 and raised fresh questions about short-term demand. The stock had already pulled back from highs above $200 after its strong post-IPO rally.
Why Did SpaceX Stock Drop Over 6%?
The drop came as traders reassessed how much index inclusion had already been priced into the stock. Many investors expected passive fund buying to support the shares, but that demand did not prevent selling.
Market weakness also added pressure during the session. According to recent analysis, SPCX stock is in a volatile correction phase after falling 30% from its all-time high. The chart suggests the stock may be moving from confidence into a possible pullback, with $150 as a key level.
SPCX Stock Prediction | Source: X
A rebound toward $225 could face selling pressure, while a break below $134 may open the way to $117 or $85. The analysis also points to a later recovery path toward $180 and $230 if buyers return strongly. However, the outlook remains risky because most of the supply is still not trading in the market.
The move below $150 became an important technical level for traders. A further break below $147 could expose the stock to deeper losses, while a recovery above $164 may help restore short-term confidence.
Analysts Stay Split on SpaceX Outlook
Wall Street remains divided on SpaceX after the end of the IPO quiet period. Some firms issued bullish targets, including Deutsche Bank at $255 and Morgan Stanley at $300.
Raymond James gave the highest target at $800, citing SpaceX’s long-term role in space infrastructure. In contrast, MoffettNathanson placed a lower target near $131 and questioned whether the current valuation can be supported.
Julie Zhu’s team said, “There is simply no credible financial model” that supports the company’s valuation at current levels.
Valuation Concerns Remain in Focus
Veteran investor Jeremy Grantham also raised doubts about SpaceX’s valuation and long-term growth assumptions. He warned that there is a 90% chance the stock could face a major crash in the future.
Grantham questioned the company’s projected market size, space programs, and AI-linked growth plans. He said, “If the current $2 trillion market capitalization is reasonable, then we are living in a very strange world.”
Still, bullish analysts point to Starlink, reusable rockets, and future Starship launches as possible growth drivers.
