Space Exploration Technologies Corp. (NASDAQ:SPCX) stock rose nearly 3% on Monday after Nasdaq Inc. (NASDAQ:NDAQ) said the company will join the Nasdaq-100 Index before the market opens on July 7.
The announcement boosted investor interest during a broad risk-on session. The Communication Services sector gained 1.59%, making it the market’s second-best-performing sector, while the S&P 500 advanced 1.25%.
Nasdaq-100 Inclusion Drives Focus
Nasdaq said Elon Musk’s SpaceX will become a component of the Nasdaq-100 Index before trading begins on Tuesday, July 7, 2026. Companies added to major indexes often benefit from increased demand as index-tracking funds adjust their portfolios.
The broader market also provided support. The Invesco QQQ Trust, which tracks the Nasdaq-100, climbed 1.82%. Market breadth remained positive, with advancing stocks outnumbering decliners by about 1.8-to-1. Meanwhile, the iShares Russell 2000 ETF fell 1.15%, showing that gains were concentrated in large-cap growth stocks.
SpaceX, Charter Reportedly Discuss Consumer Mobile Partnership
Separately, Bloomberg reported that SpaceX has held executive-level talks with Charter Communications Inc. (NASDAQ:CHTR) about a potential partnership to launch a consumer mobile phone service in the U.S.
According to Bloomberg, the discussions would see Charter route some of SpaceX’s mobile traffic through its ground-based network, supporting SpaceX’s plans to expand Starlink Mobile into a direct-to-consumer offering.
SpaceX currently offers Starlink Mobile as a $10-per-month add-on through T-Mobile US Inc. (NASDAQ:TMUS), enabling text messaging and internet-based calls in remote areas.
Analyst Outlook
The stock carries a Hold consensus rating from seven analysts, with an average price forecast of $158.33. Forecasts range from $115 to $190. Recent analyst actions include:
- Argus Research initiated coverage with a Hold rating on June 26.
- Susquehanna initiated coverage with a Neutral rating and a $170 price forecast on June 23.
- KeyBanc initiated coverage with a Sector Weight rating on June 22.
SpaceX Price Action
SPCX Stock Price Activity: SpaceX shares were up 2.33% at $156.80 at the time of publication on Monday, according to Benzinga Pro data.
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