Nasdaq rule changes allow SpaceX to join the Nasdaq-100 index 15 days post-IPO, boosting ETF exposure.
SpaceX plans to raise $75 billion in its June 12 IPO by selling 555,555,555 shares at $135 each, targeting a $1.77 trillion valuation. The offering would make it one of the most valuable public companies globally, with immediate implications for major indexes.
The S&P 500 rejected fast-tracking SpaceX, requiring a one-year trading history, consistent profitability, and sufficient public float. Nasdaq, however, amended its rules to include SpaceX in the Nasdaq-100 index within 15 days of the IPO, bypassing typical waiting periods.
Investors in Nasdaq-100 ETFs like QQQ and QQQM will automatically gain exposure to SpaceX once it joins the index, potentially altering fund performance and sector weightings.