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SPCX Stock Slides Overnight: Musk Says ‘Electric Rockets Are Impossible’ After MSCI Slaps SpaceX With Lowest ESG Rating
Yahoo Finance • • business
Key Points:
- MSCI plans to apply fast-entry rules for large IPOs, potentially allowing SpaceX to join key MSCI benchmarks more quickly, prompting funds tracking these indexes to buy shares upon inclusion.
- Despite ESG concerns, which may deter sustainability-focused investors and increase governance scrutiny, SpaceX remains on track for inclusion in major indexes like MSCI, Nasdaq, and FTSE Russell.
- SpaceX is currently ineligible for the S&P 500 due to not meeting criteria such as 12 months of trading history, sustained GAAP profitability, and sufficient public float.
- Retail sentiment on Stocktwits toward SpaceX's SPCX IPO is bullish with high message volume, though some users express skepticism about the company’s financials and anticipate volatility until the first post-IPO earnings report.
- Investors are awaiting SpaceX’s first earnings report expected in late July or early August, which could influence market perception and index inclusion prospects.
