Space stocks rallied on Monday. Rocket Lab, Planet Labs up about 10%; ASTS up 8%; Momentus, Sidus Space, Redwire up over 6%; VCX up over 5%; SpaceX up 3%.

SpaceX is set to be added to the Nasdaq 100 index on July 6. It won’t be eligible to join the S&P 500 until June 2027 at the earliest.

FTSE Russell uses a variety of metrics to determine if stocks are eligible for membership of the Russell 1000 Growth Index, the Russell 1000 Value Index, or both.

SpaceX will be added to the Russell 1000 as 90.4% growth and 9.6% value. It will be re-evaluated when another reshuffle takes place in December.