The Globe and Mail reports in its Wednesday edition that SpaceX's swift addition to the Nasdaq-100 index on Tuesday is expected to unleash billions in passive buying, as brokerages kicked off coverage of the $2-trillion (U.S.) rocket and satellite company with largely bullish views. A Reuters dispatch to The Globe says the Elon Musk-led company joins the index less than a month after its initial public offering June 12, thanks to the Nasdaq's revised rules for newly listed companies looking to enter widely tracked benchmarks. However, shares of SpaceX fell 6.8 per cent, reflecting a slide in high-momentum tech stocks, including Micron Technology, on concerns about the longevity of the AI boom. "There's nervousness about expectations being too high," said Mark Hackett, chief market strategist at Nationwide. "I expect that to continue until we get some earnings out." More than a dozen brokerages, including SpaceX IPO underwriters Morgan Stanley, Goldman Sachs and JPMorgan, started coverage of SpaceX with top ratings, in Wall Street's first attempt to value it using conventional metrics. Most analysts see Starship, SpaceX's fully reusable next-generation rocket, as the key driver of the company's lofty growth projections.