SpaceX Enters Nasdaq-100 Amid Record IPO and Lockup Concerns

Space Exploration Technologies Corp. entered the Nasdaq-100 index on July 7 following the largest initial public offering in history. The company raised $86.7 billion, surpassing the projected $75 billion due to strong investor interest. While inclusion in the Nasdaq-100 is expected to support the share price through passive buying from exchange-traded funds, the stock is currently trading below its $150 market open price.

Analysts attribute the price decline to macroeconomic volatility and broader pressure on the tech industry, noting that the company has provided no new operational information since its debut. Investors are currently cautioned against buying due to a staggered lockup period that may trigger significant sell-offs throughout the remainder of the year.

The first lockup stage ends in early August following the second-quarter earnings release, which will make 911.5 million shares—approximately 6.8% of the total—eligible for sale by insiders. This volume exceeds the amount of stock currently available on the market. Additional blocks of shares are scheduled for release in September, October, and December, with the total volume of potential expirations likely exceeding the 639 million shares originally sold during the IPO.