You may not have bought Space Exploration Technologies Corp. (NASDAQ:SPCX) stock. But if your retirement savings sit in a Nasdaq-100 ETF, a target-date retirement fund or a large-cap growth 401(k), there’s a good chance you became a SpaceX investor anyway.
That’s because SpaceX officially joined the Nasdaq-100 just 15 trading days after its blockbuster IPO—the fastest major index inclusion following an IPO after Nasdaq introduced a new fast-track rule earlier this year. The move forced index funds tracking the benchmark to purchase billions of dollars worth of SpaceX shares, regardless of whether portfolio managers believed the stock was attractively valued.
