SpaceX to join NASDAQ-100 index on July 7

SpaceX to join NASDAQ-100 index on July 7

SpaceX will join the NASDAQ 100 index on July 7, NASDAQ confirmed on Friday.

The move is expected to trigger a wave of passive investments in Elon Musk's space and AI venture.

The inclusion usually results in a rise in stock price as exchange-traded funds (ETFs) that track the index buy shares of newly included companies.

SpaceX meets revised entry criteria

To attract more companies looking for US listings, NASDAQ and other index providers FTSE Russell and MSCI have eased their entry criteria.

These changes include profitability, the number of days after a company goes public, and the number of shares available for trading.

Despite its recent losses, SpaceX was able to meet these revised standards.

The company has reported sharp losses and small profits over the past three years. Last year alone, it posted a net loss of $4.9 billion.