The SPCX stock price slipped more than 2% recently, trading at $151.50, despite positive developments surrounding SpaceX. Market participants are closely watching the company following NASA's selection of the firm for a future satellite mission and an anticipated change in its Nasdaq-100 weighting.
NASA Selects SpaceX for StarBurst Mission
On September 17, NASA announced that it selected Elon Musk's space technology firm to launch the StarBurst satellite on a Falcon 9 rocket. The mission, scheduled for no earlier than 2028, adds another government-backed mission to SpaceX's launch pipeline and reinforces its position in the commercial launch market.
NASA chose the company under its Venture-Class Acquisition of Dedicated and Rideshare launch services contract. The StarBurst spacecraft is set to share a Falcon 9 launch with other payloads. While the agreement provides the firm with another institutional customer, investors are evaluating its long-term impact as the development did not immediately boost the stock price.
Nasdaq-100 Rebalance and Market Focus
Market attention has also shifted toward changing index exposure that could create unusually large trading flows around a Nasdaq-100 rebalance. Nasdaq added SPCX stock to the index in July, with its initial weighting constrained by the limited number of shares available for public trading.
With more shares having become available, pro forma Nasdaq data indicated that the company's weighting could rise from about 1.28% to roughly 2.82%. Market commentator Sawyer Merritt highlighted estimates suggesting the adjustment could require between $15.5 billion and $22 billion in purchases from passive funds.
Long-Term Outlook and Speculation
Despite the recent retreat in the stock price, experts such as Cathie Wood remain bullish on the long-term trajectory of SpaceX's growth. Additionally, some prediction market bettors are anticipating a potential merger announcement between Tesla and SpaceX, though the odds remain very low. Speculators continue to track such corporate rumors on prediction markets where decentralized smart contracts resolve payouts based on real-world events.
