By ReutersPublished On 7 Jul 20267 Jul 2026SpaceX’s swift addition to the Nasdaq-100 index is expected to unleash billions in passive buying, as brokerages kicked off coverage of the $2 trillion rocket and satellite company with largely bullish views.The Elon Musk-led company joined the index on Tuesday, less than a month after its stock market debut on June 12 – among the fastest inclusions ever – thanks to the Nasdaq’s revised rules for newly listed companies looking to enter widely tracked benchmarks.Recommended Stories list of 4 itemsend of listIts entry in the tech-heavy index creates another source of demand for its stock as index funds and exchange-traded funds (ETFs) tied to the Nasdaq-100 will need to buy shares to match the benchmark’s new composition.However, shares of SpaceX fell 5.4 percent, reflecting a slide in high-momentum tech stocks, including Micron Technology, on concerns about the longevity of the AI boom.“There’s nervousness about expectations being too high,” said Mark Hackett, chief market strategist for Nationwide. “I expect that to continue until we get some earnings out.”The stock carries a 1.34 percent weight on the Nasdaq-100, according to LSEG data, far below that of several heavyweights, including Nvidia and Apple, as Nasdaq adjusts its weight based on free-float or the number of shares available to trade publicly.Bullish viewsHistorically, there is a waiting period between when a company goes public and when it is listed on the Nasdaq-100 index and/or S&P 500, and companies must demonstrate profitability over four quarters for the S&P 500 and three calendar months for the Nasdaq-100, excluding the month of listing. SpaceX lobbied for a waiver for so-called mega cap companies. In early May, Nasdaq made a rule change that could allow the Texas-based company to enter the index after just 15 trading days. S&P D …
