SpaceX Has Joined the Nasdaq-100. Here's What That Means for Index Investors
Yahoo Finance ·
Space Exploration Technologies ( SPCX 6.72% ) has already set several records in just a few weeks as a publicly traded company. It was the largest IPO ever, raising roughly $75 billion in its offering, and it was also the most valuable listing ever, valued at $1.75 trillion based on the listing price. It opened at more than $1.9 trillion before soaring to nearly $3 trillion briefly two sessions later. Now, SpaceX is setting another first. It will be the fastest company ever to join the Nasdaq-100 , which modified its rules to allow Elon Musk’s space company to join the vaunted index, accepting SpaceX today, less than a month after it went public. The Invesco QQQ Trust ( QQQ 1.88% ) , which tracks the Nasdaq-100, is one of the largest ETFs in the world with net assets of $490.1 billion. Like the index, the ETF tracks the top 100 non-financial Nasdaq stocks, and that now includes SpaceX.
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