SpaceX stock will be added to the Nasdaq-100 index before the open on Tuesday, July 7, Nasdaq confirmed late Friday. That will pave the way for passive investment flows from mutual funds and ETFs that track the big-cap tech index.
The ***** eX news is not a surprise. Nasdaq recently announced fast-track rules for large IPOs to join the Nasdaq-100 index after just 15 trading days. For ***** eX stock, that's July 6. FTSE Russell also sped up big IPOs' eligibility into its indexes. SPCX stock was added to the Russell 1000 after Friday's market close.
Passive funds that track Russell indexes will need to buy almost $3 billion in ***** eX (SPCX), according to Jefferies. JPMorgan recently estimated that passive funds that track the Nasdaq 100 will need to buy $4 billion in Elon Musk's ***** e company.
Notably, S&P Dow Jones Indices this month opted to keep its eligibility requirements for the S&P 500, rejecting calls to fast track ***** eX and other upcoming megacap IPOs such as Anthropic and OpenAI into the benchmark index. ***** eX will have to wait 12 months, and even then must meet profitability and public float requirements.
The amount of money tracking the S&P 500 index dwarfs that of the Nasdaq-100 index and Russell 1000.
The ***** eX news is not a surprise. Nasdaq recently announced fast-track rules for large IPOs to join the Nasdaq-100 index after just 15 trading days. For ***** eX stock, that's July 6. FTSE Russell also sped up big IPOs' eligibility into its indexes. SPCX stock was added to the Russell 1000 after Friday's market close.
Passive funds that track Russell indexes will need to buy almost $3 billion in ***** eX (SPCX), according to Jefferies. JPMorgan recently estimated that passive funds that track the Nasdaq 100 will need to buy $4 billion in Elon Musk's ***** e company.
Notably, S&P Dow Jones Indices this month opted to keep its eligibility requirements for the S&P 500, rejecting calls to fast track ***** eX and other upcoming megacap IPOs such as Anthropic and OpenAI into the benchmark index. ***** eX will have to wait 12 months, and even then must meet profitability and public float requirements.
The amount of money tracking the S&P 500 index dwarfs that of the Nasdaq-100 index and Russell 1000.
4 months ago
