economy
SpaceX will join Nasdaq-100
Adding SpaceX this quickly would make the Elon Musk company one of the first beneficiaries of Nasdaq's recently adopted fast-track inclusion framework.
TL;DR
- SpaceX stock is consolidating on the NYSE after its Nasdaq listing.
- The company is set to be added to the Nasdaq-100 index.
- This inclusion is expedited by Nasdaq's new fast-track framework for IPOs.
- Index-tracking funds, like those following the Nasdaq-100, will need to buy SpaceX shares.
- SpaceX's small float means even a modest index weighting could require substantial purchases.
- SpaceX is ineligible for the S&P 500 due to its separate requirements.