[Market Focus] Sphear Jumps on News of SpaceX Moving to Boost Share Price Ahead of Listing

Sphear is strong. The stock is believed to be reacting to news that SpaceX has begun preliminary work to boost its share price early ahead of its listing.

As of 10:04 a.m. on the 6th, Sphear was trading at 35,200 won, up 22.61% from the previous day.

According to Yonhap News and foreign media, SpaceX recently contacted major U.S. stock index providers such as Nasdaq to explore whether it could be included in the indices at an early stage.

When a listed company is added to major indices such as the Nasdaq 100 or S&P 500, the mandatory buying by index funds that track those indices typically pushes the share price higher. However, in general, index inclusion is only possible after a waiting period of several months to about one year following the listing.

SpaceX, however, is seeking to bypass this convention and pursue early index inclusion. SpaceX is reported to have conveyed the view that the rules should be revised to open early inclusion opportunities not only for itself but also for high-value unlisted companies such as OpenAI and Anthropic.

In response, Nasdaq recently collected market feedback on a draft revision to the Nasdaq 100 index methodology, which included a proposal to allow inclusion just 15 trading days after listing if a company’s market capitalization ranks within the top 40 of index constituents. If this proposal is implemented, the likelihood of early inclusion for SpaceX, OpenAI, and Anthropic will increase. SpaceX is currently valued at around 800 billion dollars.

Meanwhile, Sphear is known as a primary vendor that supplies special alloys to SpaceX. It posted annual revenue of 95.6 billion won last year.