SpaceX Nasdaq-100 weight rising from 1.28% to 2.82% starting Monday
Business
SpaceX is getting a bigger slice of the Nasdaq-100 pie: its share in the index will jump from about 1.28% to 2.82% starting Monday.
This update reflects SpaceX's massive more than $2 trillion value and fixes an earlier imbalance, even though most of its shares were still locked up and unavailable for public trading.
Nasdaq-100 trackers to rebalance $800B
Because so many funds track the Nasdaq-100 (think Invesco QQQ), they'll need to adjust their portfolios to match SpaceX's new weight, impacting over $800 billion in assets worldwide.
The timing is interesting too, since markets are already pretty jumpy thanks to tech stock swings and global tensions.