SpaceX Stock Is About to Get a Massive QQQ Boost: No Rally Required

SpaceX stock QQQ weight will rise even if shares go nowhere, because a wave of post-IPO lockup expirations is about to nearly triple the company’s public float. That SpaceX stock QQQ boost hinges on two dates: SpaceX earnings on Aug. 4, and a SpaceX lockup expiration just two days later that frees close to 1 billion pre-IPO shares.

SpaceX Stock QQQ Boost Hinges On Earnings And Lockups

A Small Float Explains The SpaceX QQQ Weight Gap

SpaceX floated only about 5% of its shares at the IPO, versus roughly 20% for a typical offering, according to Renaissance Capital strategist Matthew Kennedy. That thin float is why SpaceX QQQ weight has stayed small next to the company’s full valuation. As of July 22, the Invesco QQQ Trust held 39.7 million SpaceX shares worth $4.57 billion, a 0.98% portfolio weight.

Morningstar analyst Zachary Evens, who tracks passive strategies, said the SpaceX lockup expiration could raise that SpaceX QQQ weight even without a rally:

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