SpaceX Set for Larger Weighting in Nasdaq 100 This Month as Lockup Expirations Expand Float

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SpaceX’s weight in the Nasdaq 100 index could increase significantly, triggering billions of dollars in automatic share purchases by funds tracking the index. Elon Musk’s space company’s weight could increase from 1.28 percent to 2.82 percent, according to preliminary data. The change is important because $1.7 trillion in investments track the Nasdaq 100. We will also cover similar topics at our Portfolio Investment Day conference on October 21.…

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According to ChainCatcher, market sources say SpaceX will increase its weighting in the Nasdaq 100 index after index rebalancing.

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SpaceX's stock has continued to move in a relatively limited price range lately, but it is not out of the question that it will soon be at the center of a new buying wave. The key role is expected to be played by the quarterly restructuring of the Nasdaq 100, the results of which will be announced on Friday (11/9), after the close of the session on Wall Street. At its heart is a lesser-known rule concerning how companies' participation in the te…

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SpaceX stock is in an accumulation phase following its much-discussed IPO. However, the tech giant's upcoming quarterly restructuring is likely to weigh on its stock.