SpaceX Rises 0.15% Ahead of Russell Inclusion, Funds to Buy $4B
SPCX•SpaceX shares rose 0.15% as passive funds tracking Russell US indexes prepare to purchase over $4 billion of stock ahead of its addition after Friday’s close. The company’s $2 trillion valuation and 107x 2025 sales multiple underscore investor debate over its $100 billion free float and $4.9 billion loss last year.
1. Russell Index Addition
SpaceX received approval for inclusion in the Russell US indexes after Friday’s close, triggering mandatory purchases by passively managed funds aiming to minimize tracking error. This technical demand drove a 0.15% rise in the stock as ETFs and index funds prepared to allocate over $4 billion to SpaceX ahead of Monday’s session.
2. Trading Turnover and Free Float
Traders exchanged approximately $19 billion of SpaceX shares on the day, with nearly half of that volume occurring in the final minutes of trading. Despite a $2 trillion overall valuation, only about $100 billion of shares are available for public trading, with the remainder held by insiders and employees.
3. Valuation and Financial Performance
SpaceX is trading at roughly 107 times its projected 2025 sales, reflecting high growth expectations despite a $4.9 billion loss in the prior year. Investors continue to weigh the company’s dominant position in satellite internet, AI infrastructure and commercial launches against its unprofitable status.
4. Nasdaq 100 Eligibility
SpaceX becomes eligible for the Nasdaq 100 index on July 6, prompting anticipation of additional passive demand from large index funds such as the Invesco QQQ ETF. This dual-index inclusion could further amplify buying pressure on the stock in the coming sessions.
