TradingKey – On Tuesday, SpaceX ( SPCX) officially joined the Nasdaq 100 Index, becoming one of the fastest newly listed stocks to be included in the index’s history.

However, the market reaction was a far cry from Wall Street’s optimistic expectations, with SpaceX shares plummeting 6.98% on high volume that day to close at $149.47, marking its lowest closing price since listing.

Source: TradingView

This decline not only far exceeded the Nasdaq’s 0.87% drop on the same day, but also sent its stock price back to its opening level on its June 12 IPO debut, with the market divergence fully on display during this short three-week market cap roller coaster.

At this critical moment of SpaceX’s inclusion in the Nasdaq, legendary investor Jeremy…