On September 8, SpaceX rose 3% in regular trading. The stock had been consolidating in the $133-$150 range for nearly four weeks before breaking higher, driven by expectations surrounding the upcoming Nasdaq 100 quarterly rebalancing.

The Nasdaq 100 index is scheduled to undergo its quarterly rebalancing on September 21. With over 1 billion SpaceX shares now unlocked, the free-float ratio has risen from below 10% post-IPO to approximately 30%. JPMorgan strategist Min Moon's team estimates that SpaceX's index weight will increase from 1.25% to approximately 1.51%, triggering roughly $12.4 billion in passive net buying. Morgan Stanley projects the weight could reach as high as 2.25%, corresponding to $15.5 billion in passive fund inflows. Despite a market capitalization exceeding $2 trillion — ranking sixth in the index — SpaceX currently sits only 19th by weight due to its previously limited free float.

Separately, Pivotal initiated coverage with a Buy rating and a $220 price target, while Wells Fargo slightly trimmed its target to $212. Analysts polled by FactSet maintain an average overweight rating with a mean target of $225.62.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)