Nasdaq increases SpaceX's weighting in Nasdaq-100 index
SpaceX (SPCX) has seen its weight in the Nasdaq-100 more than double, following a significant increase in publicly tradable shares. This adjustment means that funds tracking the benchmark must now hold significantly more of the stock, potentially boosting demand for SpaceX shares from products like QQQ and over 200 other investment vehicles linked to the index. The change comes after SpaceX's initial public offering (IPO) on June 12, followed by its inclusion in the Nasdaq-100 just a month later. Initially limited due to a small float of shares, the company’s weighting has now risen from 1.28% to 2.82%. This shift reflects an expanded pool of tradable shares and could signal increased institutional interest. Analysts remain optimistic about SpaceX's long-term potential despite valuation disagreements. The average price target among analysts is $232, implying nearly 50% upside from the current share price.
