$SPCXB SpaceX to join the Nasdaq-100 in a fast-tracked process that will drive huge ETF buying demand
SpaceX became one of the quickest additions ever to the Nasdaq-100 index, setting up a fresh wave of buying from passive investors less than a month after the company’s blockbuster public debut.
Nasdaq announced after the close Friday that SpaceX qualifies for inclusion in the benchmark technology index. Assuming the company meets the requirements, index-tracking funds and other product sponsors would begin purchasing shares after the market closes on July 6, with SpaceX officially joining the Nasdaq-100 before trading begins on July 7.
More than $800 billion tracks the index, including the Invesco QQQ Trust (QQQ), which is one of the most popular securities traded each day and is seen as a barometer for the artificial intelligence bull market.
SpaceX became one of the quickest additions ever to the Nasdaq-100 index, setting up a fresh wave of buying from passive investors less than a month after the company’s blockbuster public debut.
Nasdaq announced after the close Friday that SpaceX qualifies for inclusion in the benchmark technology index. Assuming the company meets the requirements, index-tracking funds and other product sponsors would begin purchasing shares after the market closes on July 6, with SpaceX officially joining the Nasdaq-100 before trading begins on July 7.
More than $800 billion tracks the index, including the Invesco QQQ Trust (QQQ), which is one of the most popular securities traded each day and is seen as a barometer for the artificial intelligence bull market.