Space Exploration Technologies (SpaceX) joins the Nasdaq-100 Index before the market opens on July 7. This inclusion follows Nasdaq's fast track rules for large initial public offerings. The company enters the index just 15 trading days after its market debut.
The Invesco QQQ Trust must purchase significant shares to rebalance its portfolio. Passive funds tracking the index may need to buy over $4 billion in SpaceX stock. The stock will carry an initial weighting of 0.7% to 1% in the index.