Goldman Sachs Reports SpaceX Post-IPO Index Impact Remains Muted Amid Phased Lockups

SpaceX's integration into major U.S. stock benchmarks has caused minimal market disruption despite previous volatility fears, according to Goldman Sachs research. Although passive index funds tracking gauges like the Nasdaq-100 bought roughly $32 billion of SpaceX shares, excluding the stock shifts the Nasdaq-100 forward price-to-earnings ratio only from 19.5 to 19.2 and alters its recent decline from 10.3% to 10.0%. A staggered lockup schedule, keeping CEO Elon Musk's holdings locked until mid-2027, mitigated index instability. Goldman Sachs estimates an upcoming Russell 1000 Growth rebalance could generate over $10 billion in passive inflows.