SpaceX is set to join the Nasdaq-100 index on July 7, 2026, just 15 trading days after its Nasdaq debut, which occurred on June 12 with a valuation of $1.75 trillion. This rapid inclusion is due to new Nasdaq rules, effective May 1, 2026, that fast-track mega-cap companies into the index and relax requirements like profitability and minimum public float. Nasdaq also introduced a "float multiplier" to artificially inflate the stock's weight for companies with less than 20% of shares publicly available.
This inclusion will require an estimated $4.3 billion to $27 billion in passive buying from exchange-traded funds (ETFs) and mutual funds that track the Nasdaq-100, such as Invesco’s QQQ. This demand is automatic, meaning funds must buy SpaceX shares to replicate the index's performance. JPMorgan estimated $4.3 billion in passive inflows just for the QQQ fund.
However, this move is met with some skepticism. SpaceX reported a net loss of $4.9 billion in 2025, and some analysts, like Michael Field from Morningstar, believe the stock is overvalued. Historically, many recent Nasdaq-100 additions have struggled in their first week, with the average newcomer slipping 3.8%. S&P Global has stated it will not change its requirements for SpaceX to enter the S&P 500 index, requiring a 12-month waiting period and profitability.
Investors in funds tracking the Nasdaq-100 will now automatically gain exposure to SpaceX, irrespective of its financial performance or individual investor preference. This contrasts with S&P 500 funds, which won't include SpaceX for at least another year, or until it becomes profitable.
