Story thread · 7 reports / 5 sources

SpaceX shares could get a boost from Nasdaq 100 rebalancing

economictimes.indiatimes.com · 6dShare

SpaceX's stock has been stuck in a tight trading range recently, but a wave of new buying may soon arrive when the Nasdaq 100 Index goes through its quarterly rebalancing later this month.The key is the combination of a little-discussed rule in the tech-heavy benchmark's construction and a staggered series of lockup periods for shareholders of Elon Musk's satellite and space exploration venture that has limited the number of shares available to trade.Nasdaq determines a company's weighting in the index based on a calculation of its market value that factors in its outstanding shares or 3-times its free-floating shares, whichever is lower. This means a stock with a low free float, which excludes shares held by insiders or those subject to lockups, will not have its full market value used to calculate its weighting.Read more: US stocks today: US stocks slip as AI fears weigh on software, while oil and rate bets add pressureFor SpaceX, which has a small free float because of lockup restri

First report: SpaceX Set for Boost From Potential Jump in Nasdaq 100 Weighting — bloomberg.com, 7d