Is SpaceX Stock a Buy Before July 7?

Following its initial public offering (IPO) on June 12, Space Exploration Technologies (NASDAQ: SPCX) immediately became one of the world's largest publicly traded companies. The space tech and artificial intelligence (AI) company went public at a valuation of $1.77 trillion and has since seen its valuation march even higher, with its market capitalization sitting at $2.1 trillion as of this writing. Now, SpaceX is coming up on another milestone.After the market closes on July 6, SpaceX will be added to the Nasdaq-100 index -- an index that includes the 100 largest, non-financial companies that trade on the Nasdaq stock exchange. As a result, exchange-traded funds (ETFs) that track the Nasdaq-100 will be buying the stock so that their portfolios accurately reflect the index. In turn, the buying action could be a catalyst that works to send the company's share price higher. Does that mean SpaceX stock is a buy before July 7?Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool