The Nasdaq halo effect fails! $SPCX SPCX breaks issue price at 150.8—buy the dip or run for your life?

Brothers, on the first day of SpaceX's inclusion in the Nasdaq 100, it staged a classic case of "good news turns into bad news"—closing down 6.83%, hitting a new low since its IPO.

News surface:
Inclusion = instant death. On July 7, the day it was officially added to the Nasdaq 100, SPCX opened at 158.92 and hit a low of 148.86 during the session. Wall Street investment banks were collectively bullish, with target prices as high as $800, but the market simply wasn't buying it.

Why the drop? "Buy the rumor, sell the fact." The expectation of being added to the Nasdaq 100 was already confirmed on June 12, the day of its listing. A month of hype had already absorbed the $4.3 billion in passive fund inflows. Combined with a chip stock rout dragging down the broader market, SPCX became one of the worst-performing new stocks on the Nasdaq 100's debut day.

Technical analysis:
It has now broken below its first-day opening price of $150, only slightly above its IPO price of $135.

Resistance above: 155-159, strong resistance at 160-165.
Support below: 148-149; if lost, look at 140-145.

Gongming's view:
The inclusion catalyst has already been priced in, and short-term chips need sufficient churning to stabilize. The 150 level is a key psychological threshold, but don't blindly buy the dip—breaking below the first-day opening price shows selling pressure hasn't been fully released.

Trading strategy:
Conservative: Wait for a pullback to 145-148 before going long.
Aggressive: Go long near the current price of 150.

The Nasdaq halo couldn't save the day—don't fight the market, wait for it to find its own footing.

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