The rocket company’s inclusion in the index marks the first time a stock joins within 15 days of its IPO.
SpaceX will join the Nasdaq-100 on July 7 after its $1.7 trillion IPO at $135 per share on June 12. The move follows a rule change reducing the seasoning period for index inclusion from three months to 15 days, allowing faster entry for large IPOs.
The Nasdaq-100, a benchmark for growth stocks, has historically seen newly added stocks rise 10% in six months and 18% in 12 months post-inclusion. SpaceX’s addition is the first under the new 15-day rule, breaking the index’s long-standing precedent.
Index-tracking funds will need to purchase SpaceX shares to align with the Nasdaq-100, potentially driving demand. The company’s inclusion reflects its size and sector alignment with the index’s focus on innovation and technology.