SpaceX went public on June 12, 2026, with an initial share price of $135 and a valuation between $1.75 trillion and $1.8 trillion. The company joined the Nasdaq 100 on July 7, 2026, following a May 2026 rule change that allows large IPOs to bypass standard waiting periods.
At the time of inclusion, the public float of SpaceX was approximately 3–5%, which limited its index weight to under 1% due to the Nasdaq 3x multiplier rule. Passive funds, including the Invesco QQQ ETF, saw initial inflows of about $4.3 billion during this period.
As insider lockup periods expire on a staggered schedule, the public float has increased to roughly 16% as of early September 2026. This expansion forces index-tracking funds to purchase additional shares during the upcoming quarterly rebalancing to align with the new weighting.
The lockup expirations are scheduled to continue through December 2026. Consequently, the company's index weight is expected to rise at each subsequent quarterly rebalance, leading to further mandatory buying cycles for funds that track the Nasdaq 100.
