SpaceX to join the Nasdaq-100 after fast-track inclusion

Nasdaq said SpaceX will be added to the Nasdaq100 index under its fasttrack process for newly public companies, pending final eligibility checks. If the company meets the exchange’s requirements, indextracking funds could begin buying shares after the market closes on July 6, with the change taking effect before trading on July 7. The move could create additional demand for SpaceX because many funds and ETFs follow the Nasdaq100, including the Invesco QQQ Trust. SpaceX is expected to enter the index with a weighting of less than 1%, but its small public float could still require meaningful buying from passive investors. The inclusion comes less than a month after SpaceX’s public debut and reflects Nasdaq’s updated rules that allow some large IPOs to become eligible after 15 trading days. CNBC also noted that SpaceX remains outside the S&P 500 because that index has different profitability and seasoning requirements.