Meta Platforms Inc.META
Mentioned
Impact on stocks 2
Spatial Computing / AR/VR
Meta Platforms Inc.Space Economy
Theme Impact
Off-coverage companies 2
AnthropicPrivate± Mixed
relevance
OpenAIPrivate± Mixed
relevance
Meta Platforms Inc.SpaceX stock has dropped 48% from its all-time high of $225.64 per share on June 16 to $118.24 on July 23, but major ETFs are set to keep buying shares because of float-adjusted market cap weighting rules. The company went public on June 12 with a megacap valuation built in private markets, forcing indexes and ETFs to adopt gradual position-building based on float rather than full market cap. On August 6, 20% of early release eligible shares unlock, which could drastically increase the float and eventually shift weighting to full market cap, making SpaceX a top holding in funds like Vanguard Total Stock Market ETF and Vanguard Growth ETF. As of June 30, nine Vanguard ETFs collectively held $6.1 billion in SpaceX stock, representing 7.1% of the initial float from the $85.7 billion IPO. Analysts warn that similar ETF buying patterns may repeat for upcoming mega IPOs like Anthropic and OpenAI.
Meta Platforms Inc.