Space Exploration Technologies Corp (NASDAQ:SPCX) is set to join the Nasdaq-100 on July 7, a move expected to drive billions of dollars in passive investment as index-tracking funds add shares of Elon Musk's aerospace and AI company.
SpaceX's Nasdaq-100 Inclusion Could Spark Billions In ETF Buying Nasdaq confirmed Friday that SpaceX will be added to the tech-heavy Nasdaq-100 index effective July 7, less than a month after the company's June 12 public debut.
The inclusion is expected to trigger a wave of buying from exchange-traded funds and mutual funds that track the Nasdaq-100, including Invesco QQQ Trust (NASDAQ:QQQ) and NASDAQ 100 ETF (NASDAQ:QQQM).
JP Morgan estimates the move could generate roughly $4.3 billion in passive inflows as index funds rebalance their portfolios to include SpaceX, Reuters reported.
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