Bloomberg reported that SpaceX's stock price has been trading in a narrow range recently, but a wave of new buying could soon arrive as the Nasdaq 100 Index undergoes its quarterly rebalancing. The index's obscure compilation rules and phased shareholder lock-up periods limit the number of tradable SpaceX shares, potentially boosting its weight.
Bloomberg reported that SpaceX's stock price has been trading in a narrow range recently, but a wave of new buying could soon arrive as the Nasdaq 100 Index undergoes its quarterly rebalancing later this month.
The key factor is an obscure rule in the compilation of the tech-heavy benchmark index, combined with the phased unlocking of shareholder lock-up periods for Elon Musk's satellite and space exploration company. These factors limit the number of SpaceX shares currently available for trading.
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