Shares of ******* e Exploration Technologies (NASDAQ:SPCX) slipped ahead of the company's scheduled inclusion in the Nasdaq 100 on Tuesday, as several major Wall Street firms initiated research coverage with price targets ranging from US$190 to US$300.
The wide range of valuations reflects differing opinions over the long-term potential of ******* eX's artificial intelligence and satellite operations.
The company's addition to the Nasdaq 100 is expected to drive substantial passive investment flows. Last month, JPMorgan estimated that index-tracking funds could purchase approximately US$4.3 billion worth of ******* eX shares following the inclusion.
SpaceX's inclusion comes less than a month after its stock market debut on 12 June, making it one of the quickest companies to enter the Nasdaq 100 after listing. The accelerated timeline was made possible by revised Nasdaq eligibility rules for newly listed companies.
Despite the positive catalyst, ******* eX shares were down 2.3% in premarket trading by 04:27 ET (08:27 GMT).
The wide range of valuations reflects differing opinions over the long-term potential of ******* eX's artificial intelligence and satellite operations.
The company's addition to the Nasdaq 100 is expected to drive substantial passive investment flows. Last month, JPMorgan estimated that index-tracking funds could purchase approximately US$4.3 billion worth of ******* eX shares following the inclusion.
SpaceX's inclusion comes less than a month after its stock market debut on 12 June, making it one of the quickest companies to enter the Nasdaq 100 after listing. The accelerated timeline was made possible by revised Nasdaq eligibility rules for newly listed companies.
Despite the positive catalyst, ******* eX shares were down 2.3% in premarket trading by 04:27 ET (08:27 GMT).
4 months ago
