SpaceX’s weighting in the Nasdaq-100 is expected to rise to about 2.82% from roughly 1.28% at the September quarterly rebalance, based on pro forma data from Nasdaq’s Global Index Watch circulated late Friday, Bloomberg reported.
The final weighting will be determined later this month. The stock has carried a relatively small NDX weight since its July addition, when most shares were still locked. As lock-ups expire and more shares become tradable, free float rises and index weight can rise. More adjustments may follow as further lockups expire, Business Times Singapore said in a Bloomberg syndication published Sunday.
Wall Street expects the change could trigger billions of dollars of buying by passive funds and ETFs tied to the benchmark. Business Times noted about $1.7 trillion in assets tracked the NDX as of end-Q2 and Invesco QQQ assets near $481 billion.
Pro forma figures are not the final weight. US cash markets are closed Sunday.
Sources: Bloomberg Sept 12 (Isabelle Lee; pro forma ~1.28% to ~2.82%; GIW late Friday; final later this month; billions passive buying); The Business Times SG Sept 13 Bloomberg syndication (July inclusion; lockup/float mechanism; Aug lockups held; QQQ ~$481B; ~$1.7T NDX AUM).
