Getting added to the Nasdaq-100 is usually a good day for a stock. Funds that track the benchmark have to own it. And for ******* eX (NASDAQ: SPCX), that meant billions of dollars of forced buying into a company whose public float is only a few percent of its shares.
On paper, that is a lot of demand chasing very little stock.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Yet a day after joining the index on July 7, ******* eX trades about 35% below its high of $225.64, changing hands for less than $147 as of this writing. That is below where the stock started when the company went public in June, in the largest U.S. initial public offering on record. It slipped about 6% in the session right after inclusion, giving back nearly all of its post-IPO gains.
So is the drawdown a chance to buy one of the most talked-about companies in the world at a discount? Or is the slide telling investors something?
On paper, that is a lot of demand chasing very little stock.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Yet a day after joining the index on July 7, ******* eX trades about 35% below its high of $225.64, changing hands for less than $147 as of this writing. That is below where the stock started when the company went public in June, in the largest U.S. initial public offering on record. It slipped about 6% in the session right after inclusion, giving back nearly all of its post-IPO gains.
So is the drawdown a chance to buy one of the most talked-about companies in the world at a discount? Or is the slide telling investors something?
1 month ago
