SpaceX to Join the Nasdaq-100 on the 7th of Next Month, Entering at High Speed Just 15 Days After Listing

[Financial News] SpaceX, the aerospace and artificial intelligence company led by Elon Musk, will be added to the tech-heavy Nasdaq-100 (NDX) on July 7.
According to CNBC on the 26th, local time, the Nasdaq Stock Exchange said in a filing after the market close that SpaceX will be included in the Nasdaq-100 starting July 7.
The Nasdaq-100 is a benchmark index made up of 100 large non-financial companies listed on the Nasdaq market. It includes major U.S. tech names such as NVIDIA, Apple, and Amazon.
SpaceX's inclusion in the Nasdaq index comes just 15 days after it was listed on the Nasdaq Stock Exchange on the 12th. Being added to a major index in less than a month after listing is unusual.
This is because Nasdaq applied its "Fast Track" rule, which allows mega-cap companies to be added early to the Nasdaq-100. Although SpaceX posted a net loss of $4.9 billion last year, it was able to join the NDX early under the relaxed inclusion criteria.
Index inclusion is generally seen as a positive catalyst because it can trigger passive, or index-tracking, fund inflows into newly added stocks. JPMorgan Chase estimated that SpaceX's addition to the Nasdaq-100 could attract about $4.3 billion, or roughly 660 billion won, in passive funds.
Meanwhile, major index providers such as FTSE Russell and MSCI have been moving to add SpaceX early.
FTSE Russell granted SpaceX eligibility for inclusion in the Russell and FTSE indexes through its expedited inclusion rules. As a result, SpaceX has been included in the Russell 1000 Index since the 18th. MSCI also applied its fast-track process to add SpaceX to its major indexes.
However, S&P Global, which manages the Standard & Poor's 500 and other major indexes, decided not to change the criteria for inclusion in the S&P 500 and related benchmarks. As a result, SpaceX is not expected to be reviewed for index inclusion until 12 months later.

act@fnnews.com Choi A-young Reporter