Financial Markets

SpaceX joined the Nasdaq-100 on July 7, just 15 trading days after its IPO under Nasdaq's new fast entry rule, forcing index funds like Invesco's QQQ to buy in regardless of price. J.P. Morgan estimates $4.3 billion in passive inflows, but history shows newly added stocks often lose ground in their first days, and SK Hynix's $28 billion offering is the next test of the same rule.