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Some Investors Rethink SpaceX Exposure

As SpaceX prepares to enter major indexes, wealth managers say clients are increasingly asking how to avoid owning the company because of Elon Musk's polarizing reputation.  Ellevest head of wealth management Emily Green joined Open Interest to discuss the  real cost of excluding stocks from index portfolios, why direct indexing is gaining traction, and what passive investors may not realize about changing index dynamics.

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Bloomberg

SpaceX Joins Nasdaq 100; Crinetics Pharmaceuticals Soars on Buyout | Stock Movers

On this episode of Stock Movers: - Fiserv (FISV) is climbing as the Wall Street Journal reports big banks including JPMorgan Chase, Bank of America, Wells Fargo and PNC Financial Services Group have held preliminary discussions about a deal to acquire a network owned by the financial-technology company Fiserv. - Crinetics Pharmaceuticals (CRNC) is soaring after Vertex Pharmaceuticals agreed to buy Crinetics for $10 billion in cash to expand into endocrinology. - SpaceX (SPCX) is lower even though at least six brokers, including Morgan Stanley and Goldman Sachs, have started coverage of SpaceX with buy-equivalent ratings. SpaceX's addition to the Nasdaq 100 should provide considerable support to the stock, considering the number of funds that track the tech-heavy benchmark.

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