Space Exploration Technologies’ Class A stock, which trades on Nasdaq as SPCX, will get a bigger weighting in the Nasdaq 100 later this month as more shares become tradable after lockups expire.

The change could drive billions of dollars in additional buying by passive funds tied to the index.

Nasdaq’s pro forma data showed SpaceX’s weighting could rise to about 2.82% from about 1.28%, although Nasdaq will determine the final figure later this month.

The stock joined the benchmark in July with a smaller weight because most shares were still locked up and unavailable for public trading, limiting SpaceX’s free float.

More SpaceX shares are scheduled to come out of lockup, which could lift the company’s weighting again.

The Nasdaq 100 tracks the largest non-financial companies listed on the Nasdaq Stock Market. Funds tied to the index, including the US$481 billion Invesco QQQ Trust Series 1, must adjust their holdings when index weights change.

🔗 Source: Bloomberg

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