SpaceX (NASDAQ:SPCX) falls after IPO, Russell growth funds left with $73 billion exposure
SpaceX’s Russell index debut assigns 90.4% of its $80.9 billion notional to growth funds, forcing passive Russell trackers to buy over $4 billion of shares, while the stock trades 32% below its post-IPO high at $153.23; Nasdaq-100 eligibility on July 6 could trigger more index demand, but S&P 500 trackers remain sidelined due to eligibility rules.