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Why Did SpaceX Stock Drop Today?

TheMotleyFool

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Space Exploration Technologies (NASDAQ: SPCX) was added to the Nasdaq-100 index before the market opened today, so investors might be surprised to see SpaceX shares fall. When a company's stock is added to an index, it can rise due to passive buying by mutual funds and exchange-traded funds (ETFs) that are required to hold the entire index.

So why were SpaceX shares down by 5.2% at 12:45 p.m. ET today?

Image source: The Motley Fool.

Source Fool.com

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