SpaceX to Join Nasdaq-100 on July 7, 2023
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Source: NASDAQ.COM
- Inclusion in Nasdaq-100: SpaceX will join the Nasdaq-100 on July 7, 2023, and historically, stocks added to the index have averaged an 18% increase in the 12 months following inclusion, which could positively impact SpaceX's stock price.
- Unprecedented Fast-Track Entry: This inclusion is unprecedented as the Nasdaq-100 typically requires stocks to be public for at least three months; however, this year the seasoning period was reduced to 15 days to expedite large IPOs, reflecting strong market confidence in SpaceX.
- Strong Market Prospects: SpaceX's Starlink satellite internet service currently serves over 10 million users, having doubled its subscriber base in the past year, and future revenue from AI infrastructure is expected to further drive growth, enhancing the company's market position.
- Valuation Challenges: Despite SpaceX's significant market potential, its valuation stands at 110 times sales, which is considerably higher than Rocket Lab's 88 times, leading to concerns that such a premium is unsustainable, prompting investors to approach with caution.
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Analyst Views on GOOGL
Wall Street analysts forecast GOOGL stock price to rise
33 Analyst Rating
26 Buy
7 Hold
0 Sell
Strong Buy
Current: 366.460
Low
305.00
Averages
374.25
High
400.00
Current: 366.460
Low
305.00
Averages
374.25
High
400.00
About GOOGL
Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment includes infrastructure and platform services, collaboration tools, and other services for enterprise customers. Its Other Bets segment is engaged in the sale of healthcare-related services and Internet services. Its Google Cloud provides enterprise-ready cloud services, including Google Cloud Platform and Google Workspace. Google Cloud Platform provides access to solutions such as artificial intelligence (AI) offerings, including its AI infrastructure, Vertex AI platform, and Gemini for Google Cloud; cybersecurity, and data and analytics. Google Workspace includes cloud-based communication and collaboration tools for enterprises, such as Calendar, Gmail, Docs, Drive, and Meet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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