SpaceX's Nasdaq 100 stake to more than double to 2.8%
What's the story
SpaceX's stake in the Nasdaq 100 will more than double to 2.82% after Monday's quarterly rebalance, data from Bloomberg shows. The increase is a massive jump from its current weight of around 1.28%. The final figure, calculated using Friday's closing price, matches a provisional weighting previously published by the index provider and reported by Bloomberg.
Market positioning
SpaceX's weight was small when added to the index
When SpaceX was added to the index in July, its weight was relatively small as most of its shares were still locked up and unavailable for public trading.
This limited the company's weight even after Nasdaq changed its rules to allow newly listed large-cap companies into the index sooner.
The expected increase would begin to close an unusual gap where SpaceX, despite being the seventh-largest company by market value at over $2 trillion, didn't rank among the top 20.
Index adjustment
Nasdaq 100 tracks largest non-financial companies
The Nasdaq 100 tracks the largest non-financial companies on Nasdaq stock market.
Companies must have an average daily trading volume of at least 200,000 shares and meet other requirements for inclusion.
Edward Yoon from Macquarie said recent rebalancing events have gained significance amid several factors influencing markets.
He noted geopolitical developments involving Iran, inflation concerns, tariff uncertainty, interest rate changes, and volatility across AI and tech stocks have all contributed to price movements in many names involved in this rebalance.