SpaceX Joins Nasdaq-100, Triggering Billions in Automatic Investment Buying

SpaceX is officially joining the Nasdaq-100, one of the most widely followed technology indexes on Wall Street, a move expected to trigger billions of dollars in automatic investment purchases.More than 200 mutual funds and exchange-traded funds track the Nasdaq-100, representing a combined $800 billion in assets. Because those funds are designed to mirror the index, they will automatically purchase shares of SpaceX as part of their regular portfolio adjustments.For investors who already own one of those index-tracking funds, the change means they will now indirectly own a stake in SpaceX without taking any additional action.The addition marks another milestone for the aerospace company, which has grown into one of the world's most valuable businesses. SpaceX is currently valued at more than $2 trillion, reflecting its rapid expansion in commercial spaceflight, satellite communications and launch services.The company's inclusion in the Nasdaq-100 further strengthens its presence in the technology sector and is expected to increase its visibility among both institutional and individual investors.Explore: NBCPalmSprings.com, where we are connecting the Valley. For more Coachella Valley News visit NBCPalmSprings.com