TradingKey – SpaceX’s debut bonds continue to weaken, which will lower its valuation ceiling, but the short-term impact may be offset by the positive news of its inclusion in the Nasdaq.

On Thursday, Matt Brill, Head of North American Investment Grade Credit at Invesco, criticized Musk’s company SpaceX ( SPCX) for its debut bond issuance, calling its secondary market performance “very messy” and saying he was “very, very disappointed.” Invesco, which manages $2.5 trillion in assets, reportedly holds SpaceX bonds in its portfolio.

In late June, SpaceX issued up to $25 billion in investment-grade bonds, the largest corporate bond issuance in the U.S. this year. Initially, the bonds attracted up to $90 billion in oversubscriptions, but once…