MSCI Slaps SpaceX with Lowest Possible ESG Rating
SPCX sits 22% above its 52-week low of $149.34.
Summary
SpaceX has been assigned the lowest possible ESG rating by MSCI, a prominent environmental, social, and governance rating agency. This news follows the company's recent highly anticipated IPO and significant market valuation. A 'lowest possible' rating could deter ESG-focused institutional investors, potentially impacting long-term capital flows and investor sentiment for the newly public company.
At the time of this announcement, SPCX was trading at $181.60 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.4T. The 52-week trading range was $149.34 to $225.64. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.