SpaceX Joins Nasdaq-100 Monday, Forcing Hundreds of Billions in Index-Tracking Rebalancing

SpaceX begins trading inside the Nasdaq-100 before markets open July 7, 2026, following the reconstitution close on July 6. Passive funds tracking the index must now replicate the new composition; the mechanical requirement triggers forced buying from vehicles with zero prior exposure to the company. The capital flows are substantial given the hundreds of billions in assets held by Nasdaq-100-tracking vehicles. The live question is whether SpaceX's valuation already factored in that demand pressure, or whether price action on the first day of index trading reveals fresh moves.