U.S. stocks move | May see $12.4 billions passive buying, SpaceX (SPCX.US) rises more than 4% against the trend

According to Zhicheng Finance APP, on Thursday, SpaceX (SPCX.US) rose more than 4% against the trend, accumulating a gain of 42% since its low in August, and is now trading at $153.99. Recently, SpaceX’s share price has been fluctuating within a narrow range, but with the Nasdaq 100 index set to rebalance later this month, a new wave of buying may soon arrive. Nasdaq is expected to announce the rebalancing results after the U.S. market closes this Friday, which will officially take effect on September 21.

Due to lockup period restrictions, SpaceX currently has a relatively low free float, so its weighting in the Nasdaq 100 index is only 1.25%, ranking 19th. JPMorgan Securities strategist Min Moon and his team estimate that after the rebalancing, SpaceX’s weighting in the Nasdaq 100 index could rise to 1.51%, which would lead index funds and ETFs tracking the index to make net purchases of approximately $12.4 billion in SpaceX shares.