finance
SpaceX to Join Nasdaq-100 Index, Triggering Passive Fund Purchases
SpaceX will be added to the Nasdaq-100 index. The move is expected to generate billions of dollars in purchases by index-tracking funds. Brokerage firms have begun coverage with positive ratings.
Jul 7, 4:00 PM·1m read2 sources
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SpaceX will be added to the Nasdaq-100 index. The addition is projected to prompt billions of dollars in purchases by passive investment funds that track the index. Brokerage firms have started coverage of the company. The firms have issued broadly positive assessments of the business, which develops rockets and satellites and is valued at more than $2 trillion.
Index providers periodically adjust constituent lists based on market capitalization and trading requirements. Funds that replicate the Nasdaq-100 must buy shares of newly added companies in proportion to their index weighting.
No immediate trading data for SpaceX shares were available.
The company remains privately held, so share purchases by funds will occur through secondary-market transactions arranged by existing investors.
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