technology
SpaceX to join multiple stock indexes starting June 18
SpaceX will be added to several major indexes in June and July, triggering an estimated $21-33 billion in forced purchases by passive funds. Tesla is scheduled to release quarterly delivery and earnings reports over the same period.
Jun 16, 3:50 PM·1m read1 source
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SpaceX is set for inclusion in the CRSP and FTSE Russell indexes on June 18. The additions are projected to generate $10-16 billion in mandatory buying by index-tracking funds. The company will also join the MSCI index on June 26, prompting an estimated $3-5 billion in additional purchases. A further NASDAQ 100 inclusion is scheduled for July 6, with $8-12 billion in expected passive inflows.
earnings schedule Tesla plans to release its Q2 vehicle and energy storage delivery report on July 2. The company will hold its Q2 earnings call in late July. Tesla is also scheduled to issue its Q3 delivery report on October 2 and its Q3 earnings call in late October.
share unlock timeline SpaceX will hold its first earnings call as a public company in early to mid-August. Thirty percent of eligible insider shares will become available for sale two trading days after the release, representing 12 percent of total outstanding shares.
Additional unlock tranches of 7 percent of eligible shares are set for August 21, September 10, September 25, October 12, October 26, and December 9. Each tranche equals 2.8 percent of outstanding shares. Index rebalances in September and December will increase SpaceX's weighting as the public float grows from the unlocked shares.
Passive funds are expected to buy billions of dollars in additional shares to match the new weights.
