JPMorgan Chase: SpaceX Inclusion in Nasdaq 100 Index Could Trigger $4.3 Billion Passive Fund Inflows
BlockBeats News, June 27th, Nasdaq has confirmed that SpaceX (SPCX) will be included in the Nasdaq 100 Index on July 7th, potentially triggering a wave of passive fund inflows. Being included in an index usually boosts a stock's price as ETFs tracking the performance of the index need to buy the newly included company's stock. JPMorgan Chase estimates that SpaceX's inclusion in the Nasdaq 100 Index could bring about $4.3 billion in passive fund inflows.
SpaceX went public on Nasdaq on June 12th. In order to attract more companies to list in the U.S., Nasdaq, along with index providers like FTSE Russell and MSCI, had previously relaxed some of the inclusion requirements, including profitability, days since listing, and the number of tradable shares. SpaceX has swung between significant losses and modest profits in the past three years, with a net loss of $4.9 billion last year.
Michael Field, Chief Equity Market Strategist at Morningstar, stated, "Clearly, there is strong market demand, which is why they quickly added it to the index." He added that many would be satisfied with this development, but some fund managers and skeptics may not necessarily agree, with Morningstar believing the stock is overvalued. Investors typically gain broader market exposure to this stock through funds tracking the Nasdaq 100 Index like those under Invesco, such as QQQ and QQQM. Additionally, major language model companies like OpenAI and Anthropic are also expected to file for IPOs this year or next year, possibly seeking valuations exceeding $1 trillion.
However, S&P Global stated this month that it will not adjust the requirements for SpaceX to enter major indices like the S&P 500, and it will consider including it in relevant indices only after at least 12 months.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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