SpaceX Nasdaq-100 forced buy thesis may be way smaller than people think because of the float cap

People are saying SpaceX is going to rip because Nasdaq-100 / QQQ index funds will be “forced to buy” after inclusion. I get the mechanical demand argument, but I think the actual required buying may be way smaller than the hype implies. The part I think people are missing is the low float treatment. If SpaceX is valued around $2.5T but only has ~4% public float, Nasdaq does not necessarily weight it as if the whole $2.5T company is investable. My understanding is the new rule effectively allows low-float c