The stock of SpaceX continues its consolidation phase on the New York Stock Exchange one week after its Nasdaq listing. <\/p>\n
Samuel Boivin | Nurphoto | Getty Images<\/p>\n
SpaceX<\/a> became one of the quickest additions ever to the Nasdaq-100<\/a> index, setting up a fresh wave of buying from passive investors less than a month after the company’s blockbuster public debut<\/a>.<\/p>\n Nasdaq announced after the close Friday whether 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.<\/p>\n More than $800 billion tracks the index, including the Invesco QQQ Trust (QQQ)<\/a>, which is one of the most popular securities traded each day and is seen as a barometer for the artificial intelligence bull market.<\/p>\n The aerospace and satellite company is expected to enter the index with a weighting of less than 1%.<\/p>\n Adding SpaceX this quickly would make the Elon Musk company one of the first beneficiaries of Nasdaq’s recently adopted fast-track<\/a> inclusion framework for newly public companies. The changes allow some large IPOs to become eligible for the Nasdaq-100 after just 15 trading days, dramatically shortening what had historically been a far longer waiting period.<\/p>\n Under the previous framework, investors tracking the Nasdaq-100 could be forced to wait months before gaining exposure to newly listed market giants.<\/p>\n The inclusion could create another source of demand for SpaceX, which has been one of the most actively traded stocks since its June 12 debut. Index funds and exchange-traded funds tied to the Nasdaq-100 would need to buy shares to match the benchmark’s new composition, while active managers who track the index closely might also adjust positions.<\/p>\n Because SpaceX’s publicly tradable float remains small compared with its total market capitalization, even a modest index weighting could require meaningful purchases from passive investment vehicles.<\/p>\n