The Nasdaq 100 Will Get Its Quarterly Rebalance This Month. It Could Be a Boon For SpaceX.

SpaceX is set to get a higher weighting in the Nasdaq 100 after its quarterly rebalance, which will take place later in September.

Bloomberg detailed that the figure is a result of several factors, but shares that have been released following lock-up periods will help lift it.

The company currently represents 1.25% of the Nasdaq 100, making it the 19th biggest in the index despite being 6th in terms of market capitalization.

However, the release of different tranches of shares over the past weeks, taking the free float to almost 30% from 10% after the IPO, will lift the weighing after September 21. It could go to 2.25%, leading net passive buying from index funds and ETFs to buy the stock. The weighing is set to continue increasing as more shares are released.

The stock was largely flat at 10:12 a.m. ET, trading above $147 per share. The company's stock have gone from one of Wall Street's wildest new stocks to being remarkably quiet over the past week.

The change is striking given the contrast with SpaceX's first weeks as a publicly traded company. Shares closed their first trading session at $160.95 and later surged above $225 before tumbling below $105, according to market data.

Now, the stock is hovering between $135 and $150. That stability has caused implied volatility, a measure commonly used to gauge expected stock swings and options pricing, to collapse.

The options market reflects that new reality. SpaceX weekly options expiring Sept. 25 were pricing in a move of approximately $16, equivalent to an implied swing of about 11%. Current options-chain data also show implied volatility in the mid-50% range for several September contracts.

Institutional interest remains significant. A recent Goldman Sachs analysis found SpaceX among a small group of stocks in which both hedge funds and mutual funds were overweight relative to the S&P 500.

Elon Musk is pushing one of his most ambitious artificial intelligence projects ahead of schedule, with SpaceX now targeting late 2027 to launch an orbital data center powered exclusively by Nvidia technology.

The company plans to send a space-optimized version of Nvidia's Vera Rubin NVL72 computing system into orbit during the fourth quarter of 2027, roughly a year earlier than the timeline presented to investors before the company's public debut.