SpaceX shares closed at their lowest-ever level on Tuesday, defying the typical market boost associated with inclusion in the Nasdaq-100 index.
The aerospace company officially joined the benchmark on Monday, triggering mandatory purchases by index-tracking funds, yet selling pressure persisted into the next session.
The decline marks a sharp pause in the stock’s extraordinary post-listing rally.
Investors appear to be prioritizing near-term valuation concerns over the prestige of index membership, as the shares retreated despite the influx of passive capital.
The move underscores the volatility surrounding the company's public debut, with traders digesting the initial euphoria of the listing.
This session represents a difficult start for SpaceX as a constituent of the Nasdaq-100.