The bond market’s assessment also jibes with SpaceX’s stock. It’s a profitless, non-dividend-paying, one-person-controlled, empire-building project trading at more than 100 times sales, about 30 times the valuation of the S&P 500 Index. That’s the very definition of a junk stock.
Original link: https://www.bloomberg.com/opinion/articles/2026-07-02/spacex-is-junk-that-s-what-the-bond-market-says
The worst part is they managed to convince a few indexes to add it within weeks rather than the way things work for everyone else. That means all us IRA/401k holders will be forced to own this stock indirectly if we have funds/ETFs that track them, and suffer the losses directly.
S&P didn’t take the bait and won’t put it in until next year, but I think it’s going on NASDAQ in a few weeks, as well as a few others.
I think it’s in the NASDAQ 100 now, but not every retirement fund will have that. Thank god the S&P500 held out. Also, the S&P didn’t change their rules and being big isn’t enough to get in, they also gotta be profitable for a period of time, so 1 year isn’t a guarantee.
Edit: My bad, Nasdaq is July 6th, so tomorrow. So it’ll probably pump a little temporarily until insiders can sell.