SpaceX Stock Closes Below Debut Price at $148 After Nasdaq-100 Inclusion

SpaceX stock closed at $148 on Wednesday, marking the second day in a row the shares traded below their debut price of $150. The company was recently included in the Nasdaq-100 index.

Elon Musk's aerospace and defense contractor's inclusion in the Nasdaq-100 came less than a month after its stock market debut on June 12. The rapid inclusion was partly due to revised Nasdaq rules for new public companies, requiring index funds and exchange-traded funds to purchase SpaceX shares to align with the benchmark.

SpaceX's record initial public offering in June raised $85.7 billion after underwriters exercised their overallotment option. While the stock initially surged post-debut, reaching a high of $201.80 on June 16, it has since seen a decline. Analysts have largely issued positive ratings, citing the company's lead in reusable rocket technology and launch services, as well as its Starlink satellite internet service.

Growth potential is also seen in artificial intelligence products and services, including coding tools and orbital data centers. However, a minority of analysts remain skeptical, with some recommending a sell rating.