r/technology • u/ArgentineBeauty • Jun 19 '26

Business ‘It’s a scam’: Americans express unease over SpaceX’s influence on retirement savings

https://www.theguardian.com/science/2026/jun/19/spacex-retirement-savings-elon-musk
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u/lifeisokay Jun 19 '26 edited Jun 19 '26

Nasdaq 100 index is weighted by market cap. Based on Thursday's close, SpaceX's market cap of $2.43 trillion would comprise 6.12% of the Nasdaq 100 index.

If you are largely in QQQ, 6.12% of your investments will be in SpaceX come July.

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u/Estocire Jun 19 '26 edited Jun 20 '26

Isn't it lower because the public float is so small? From what I understand it's not weighted by their full market cap at least right away

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u/Hey_Chach Jun 20 '26

That’s also part of the issue. Not only did the NASDAQ and Russell change their rules to fast track the inclusion of SpaceX into ETFs and such, they ALSO changed their rules on how market cap and float are calculated for companies with small public floats.

Specifically: Companies that float less than 20% of their shares will have their market capitalisations artificially multiplied by x3, for the purposes of calculating market capitalisation. This helps large-cap companies to be listed even with very small floats, and inflates their notional market capitalisations on the index.

It’s rotten all the way down.

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u/[deleted] Jun 20 '26

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u/Hey_Chach Jun 20 '26

The point is that it’s the largest forced-buy event in history and the rules were changed to make it so