SpaceX's Nasdaq 100 weighting seen more than doubling to 2.82% after Sept. 21 rebalance
Bloomberg reports, citing Nasdaq's own pro forma Global Index Watch data, that SpaceX's Nasdaq 100 weighting is set to more than double from about 1.28% to roughly 2.82% after the Sept. 21 rebalance — higher than the 2.25% JPMorgan had estimated on Sept. 8 — as expanding free float from post-IPO lockup expirations keeps funneling more passive money toward Musk-linked stocks.
SpaceX joined the Nasdaq 100 in July, but with most of its shares still locked up right after the IPO, its weighting started out in the low single digits. Since then, expiring lockups have freed up more shares for trading, setting the stage for a bigger index weighting.
Per Bloomberg's report, citing pro forma data from Nasdaq's own Global Index Watch circulated last Friday, SpaceX's weighting is expected to jump from about 1.28% to roughly 2.82% — more than double. The final figure will be confirmed later this month, with the rebalance formally announced next Friday after the close and taking effect Sept. 21.
That's a step up from the 2.25% weighting — and $15.5 billion in projected passive buying — that JPMorgan analysts led by Min Moon had estimated on Sept. 8. With Nasdaq's own official data now pointing to a bigger jump than Wall Street's earlier estimate, the resulting passive-fund buying could end up larger than first expected.
The increase traces back to free float: more than a billion shares have been released from lockup, lifting the share of SpaceX's stock available for public trading to nearly 30%, up from under 10% right after the IPO.
This doesn't directly move Tesla's own fundamentals. But it's a reminder that SpaceX keeps growing as a distinct, index-driven way to bet on Musk — the same dynamic behind the earlier card on Tesla's 8.9% slide in the three months since SpaceX's IPO, and one worth continuing to watch alongside Tesla's own stock.
Summaries are prepared by the Tesla Briefing editorial team and may not capture every nuance of the original reporting. You are solely responsible for your own investment decisions.