SpaceX Joins Nasdaq-100 Index; Estimated $220-270 Billion in Mechanical Buying Expected on July 7

According to Korean Economic TV, SpaceX was officially added to the Nasdaq-100 index on July 7 with the market open, less than a month after its June 12 IPO. The Nasdaq-100 comprises the 100 largest non-financial companies listed on Nasdaq, including Nvidia, Apple, and Amazon.

Estimated mechanical buying demand from Nasdaq-100 and Russell 1000 tracking funds is projected to reach $220-270 billion, according to JPMorgan estimates cited by ETF.com. Invesco QQQ, a major Nasdaq-100 ETF with $500 billion in assets under management, alone is expected to generate approximately $4.3 billion in buying pressure from the inclusion.