Space Exploration Technologies Corp. (SPCX  ) stock rose nearly 3% on Monday after Nasdaq Inc. (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. (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. (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.