Nasdaq Rewrote Its Rules for SpaceX; Now $4.3B in Passive Buying Forces Index Funds' Hands

Source: International Business Times

SpaceX began trading publicly in June. Getty Images Tens of millions of Americans who hold a Nasdaq-100 index fund — in a 401(k), an IRA, or a brokerage account — became involuntary SpaceX shareholders tonight, as fund managers executing mandatory rebalancing purchases bought an estimated $4. 3 billion worth of SPCX shares at market close.