Dear SpaceX Stock Fans, Mark Your Calendars for July 7

If you own SpaceX (SPCX) stock or are considering buying shares, July 7 is the date to circle on your calendar. Next week, SpaceX will officially become part of the Nasdaq-100, the index that tracks 100 of the largest non-financial companies trading on the Nasdaq. 

For a stock that began trading on June 12, this is a remarkably fast addition — and it could bring a fresh round of buying pressure just as shares of SPCX were starting to stabilize.

Why SpaceX Is Joining the Nasdaq-100

Normally, a newly public company has to wait months, sometimes longer, before it can even be considered for the Nasdaq-100. Nasdaq changed its rules earlier this year with a new fast-track program that allows large initial public offerings (IPOs) to qualify after just 15 trading days, according to CNBC. SpaceX, having debuted on June 12, was confirmed for inclusion after the market closed on June 26.

As noted by CNBC, more than $800 billion in assets track the Nasdaq-100, including the Invesco QQQ Trust (QQQ). The Invesco QQQ Trust is one of the most heavily traded funds in the market and an exchange-traded fund (ETF) that many investors watch as a gauge of the broader AI trade. 

When a stock is added to the index, every fund that passively tracks it must buy shares. That buying is scheduled to begin after the close on July 6, with SpaceX set to join the Nasdaq-100 the next day.

SpaceX is expected to enter the index with a weighting below 1%, which sounds small. However, less than 10% of SpaceX's total shares are available to trade right now, which could result in a short-term spike in the price of SPCX stock. 

SPCX Stock Has Been Volatile Since the IPO

Last week, SpaceX stock pulled back from its post-IPO high before bouncing 7% on June 29. The uptick was driven by news that SpaceX could acquire a mobile carrier, as well as renewed excitement in the satellite communications space following Rocket Lab's (RKLB) agreement to buy Iridium Communications (IRDM). 

SpaceX also tapped the bond market for $25 billion on June 22, marking one of the largest AI-related debt deals on record. The firm reportedly drew almost $90 billion in investor orders. 

The company said the money would mostly repay a bridge loan and cover general expenses. Some analysts flagged that owning both SpaceX stock and SpaceX bonds is not necessarily real diversification, since both depend on the success of businesses and projects like Starlink and Starship.

Is SPCX Stock a Good Buy?

SpaceX grew its total assets from $57.1 billion in 2024 to $92.1 billion in 2025, driven by property and equipment of $43.9 billion. The firm also grew total liabilities from $31.3 billion in 2024 to $50.8 billion in 2025. The company had long-term debt of roughly $23 billion at the end of last year. SpaceX has leaned heavily on borrowing to fund its infrastructure buildout. 

SpaceX ended 2025 with an operating cash flow of $6.8 billion, up from $5.8 billion in 2024. However, the firm spent more than $20 billion on capital expenditures last year. Much of SpaceX's growth seems to currently be funded by outside capital rather than the business paying for itself. Put simply, the underlying fundamentals point to a company in heavy investment mode rather than one generating steady profit. 

Revenue growth has been strong, and gross margins look solid, but losses on the bottom line and negative free cash flow mean SpaceX carries execution risk. The Nasdaq-100 inclusion may bring short-term relief, but fundamental investors will want to watch whether Starlink and Starship can turn the company's spending into sustainable profit.

Out of the 11 analysts covering SPCX stock, five recommend a “Strong Buy” rating, five recommend a “Hold” rating, and one recommends a “Moderate Sell.” The average price target for SpaceX stock is $204.14, implying potential upside of 29% from current levels.