finance
SpaceX Eligible for Nasdaq-100 Index After IPO
SpaceX could join the Nasdaq-100 index within weeks of its recent IPO. Inclusion would add the company to certain exchange-traded funds that track the index.
Jun 17, 11:09 AM·1m read1 source
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SpaceX will become eligible for the Nasdaq-100 index after 15 trading days from its IPO. Funds that track the index, such as the Invesco QQQ Trust, would then hold shares of the company.
The company could also enter the Russell 1000 index shortly after its debut. Several exchange-traded funds track that index, including the Vanguard Russell 1000 ETF. SpaceX is unlikely to join the S&P 500 for at least one year. S&P Dow Jones Indices said it would maintain its standard 12-month waiting period and profitability requirement for new public companies.
Some investors already hold SpaceX shares through active funds. As of May 31, SpaceX represented just over 23% of holdings in the Baron Asset Fund. SpaceX may also appear in space-themed exchange-traded funds. Broader exposure through most 401(k) plans remains limited until the company meets S&P 500 criteria. 5% from the $150 IPO price. 6 trillion.
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