SpaceX added to Nasdaq-100 with $300 price target
SpaceX has joined the Nasdaq-100 index, which comprises the 100 largest non-financial companies by market cap listed on the Nasdaq stock exchange.
The company’s market cap of around $2 trillion exceeds the size hurdle for inclusion.
Its addition to the index is expected to unlock demand from exchange-traded funds benchmarked to the Nasdaq-100.
The Nasdaq’s fast-track rules allowed for SpaceX’s quick inclusion after its initial public offering on June 12, given its market cap surpasses $121 billion, the threshold for the 40th-largest Nasdaq listing.