SpaceX IPO Set for June 12, 2023
SpaceX will make its market debut on June 12, 2023, and is projected to be the largest initial public offering (IPO) in stock market history, with a valuation of $1.77 trillion. In a significant move, the Nasdaq has amended its rules to fast-track SpaceX’s inclusion in the Nasdaq-100 index, allowing the company to qualify within just 15 trading days of its IPO.
Despite its high valuation, SpaceX is expected to account for less than 1% of the Invesco Nasdaq-100 ETF (QQQM). The ETF’s weightings are based on a company’s free-float share market cap, which for SpaceX may be around $75 billion. After applying Nasdaq’s 3x multiplier for new entrants, SpaceX’s contribution to QQQM will be approximately $225 billion.
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