SpaceX Nasdaq 100 weighting to more than double following index rebalance

SpaceX is set to see its weighting in the Nasdaq 100 index more than double, rising from 1.28% to 2.82% following a quarterly rebalance. This adjustment aims to better align the company’s index representation with its $2 trillion market capitalization. The increase is driven by the expiration of post-IPO share lockups, which has expanded the company’s public float. This shift is expected to trigger significant passive buying, with estimates suggesting between $15.5 billion and $22 billion in inflows from funds tracking the index, such as the Invesco QQQ Trust.

In addition to index changes, SpaceX has secured a $946 million contract extension from NASA to conduct three additional crewed missions to the International Space Station through 2030. The company also signed its first European contract for its Starfall orbital reentry service with Space Cargo.

On Wall Street, analysts remain bullish. Morgan Stanley has maintained an ‘Overweight’ rating with a 12-month price target of $300, citing SpaceX’s integration of AI, satellite connectivity, and planetary infrastructure. While the company recently delayed its next Starship test flight to September 28, its market position continues to strengthen through both institutional contracts and increased market accessibility.