The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Elon Musk's SpaceX (NASDAQ:SPCX) could draw $15.5 billion in passive buying this month as a Nasdaq-100 rebalance could force index funds to increase their holdings.
JPMorgan estimates SpaceX's weight in the index could jump from 1.25% to 2.25%, Bloomberg reported Tuesday. The changes are set to take effect before the Sept. 21 open, with passive funds expected to adjust their holdings at the Sept. 18 close.
The potential buying wave comes after SpaceX shares climbed above their $135 IPO price, despite concerns that post-listing lockup expirations would unleash a wave of selling.