To it credit Dow Jones/S&P i not changing the index rules for SpaceX. On Thursday, June 4, one index group, the biggest, said No to fast-tracking SpaceX’s inclusion in its indexes.
S&P Dow Jones Indices will keep its existing eligibility requirements for benchmarks including the S&P 500, closing the door to fast entry for big tech IPOs like SpaceX and delaying billions of dollars in flows from index funds and ETFs.
In press release Thursday the index group said it will not shorten its current 12-month seasoning period for newly public companies or waive existing profitability and public-float requirements. NASDAQ and FTSE Russell have both changed their rules to allow mega-IPOs like SpaceX to join their indexes in 15 days or less.
For new listings like Elon Musk’s SpaceX, the denial means they won’t be greeted by a wall of demand from ETFs that track the S&P 500. Their fast inclusion in the benchmark would have led to about $14 billion in forced passive buying for SpaceX, more than $8 billion for OpenAI and about $4.6 billion for Anthropic PBC, according to Bloomberg estimates.
NASA is not going to use the Space X fake rocket starship for the Artemis moon missions because it would be a death sentence for the astronauts! Starlink is filled with technology issues and Tesla is going under as well!!! So, the ketamine NAZI comes up with a pump/dump scheme to fleece everyone who participates in this ridiculous IPO!!!
I keep seeing parallels between Musk and Trump, but Musk is vastly better at it. This seems like a mega copy of Trump's casino scam. Seeing it was failing, he created a public company to buy it from him at a vastly inflated price, then let the investors lose when it failed.
SpaceX’s lift off on Friday was almost--financially--perfect. From my time years ago covering venture capital, I remember this rule of thumb: a good IPO result was a first day gain of about 20%. That would be enough to keep investors in the IPO happy. And yet it didn’t leave too much of a discount on the table to cost the company money. The point was, after all, to raise capital for the issuing company.
SpaceX’s IPO gained 19% on Friday. Pretty good rocketry.
Unfortunately, the historical record from NASDAQ says nearly 50% of IPOs fall on their second day of trading relative to the day‑one close. “Hot” IPOs that jump 20%+ on their first day of trading are as likely to retrace as they are to extend those gains in the immediate next session.
My take on SpaceX for Monday: The stock's performance probably depends most heavily on the news on a deal to “end” the Iran war. I wouldn’t chase Friday's gains unless I knew what the news on that front would be for tomorrow.
To it credit Dow Jones/S&P i not changing the index rules for SpaceX. On Thursday, June 4, one index group, the biggest, said No to fast-tracking SpaceX’s inclusion in its indexes.
S&P Dow Jones Indices will keep its existing eligibility requirements for benchmarks including the S&P 500, closing the door to fast entry for big tech IPOs like SpaceX and delaying billions of dollars in flows from index funds and ETFs.
In press release Thursday the index group said it will not shorten its current 12-month seasoning period for newly public companies or waive existing profitability and public-float requirements. NASDAQ and FTSE Russell have both changed their rules to allow mega-IPOs like SpaceX to join their indexes in 15 days or less.
For new listings like Elon Musk’s SpaceX, the denial means they won’t be greeted by a wall of demand from ETFs that track the S&P 500. Their fast inclusion in the benchmark would have led to about $14 billion in forced passive buying for SpaceX, more than $8 billion for OpenAI and about $4.6 billion for Anthropic PBC, according to Bloomberg estimates.
NASA is not going to use the Space X fake rocket starship for the Artemis moon missions because it would be a death sentence for the astronauts! Starlink is filled with technology issues and Tesla is going under as well!!! So, the ketamine NAZI comes up with a pump/dump scheme to fleece everyone who participates in this ridiculous IPO!!!
The business itself doesn’t warrant the valuation, but the valuation contributes to future business success.
I keep seeing parallels between Musk and Trump, but Musk is vastly better at it. This seems like a mega copy of Trump's casino scam. Seeing it was failing, he created a public company to buy it from him at a vastly inflated price, then let the investors lose when it failed.
"My pa used to say, 'You can fool some of the people all the time, and all of the people some of the time - and those are damn good odds!'"
- "Poker According to Maverick", ca. 1965
SpaceX’s lift off on Friday was almost--financially--perfect. From my time years ago covering venture capital, I remember this rule of thumb: a good IPO result was a first day gain of about 20%. That would be enough to keep investors in the IPO happy. And yet it didn’t leave too much of a discount on the table to cost the company money. The point was, after all, to raise capital for the issuing company.
SpaceX’s IPO gained 19% on Friday. Pretty good rocketry.
Unfortunately, the historical record from NASDAQ says nearly 50% of IPOs fall on their second day of trading relative to the day‑one close. “Hot” IPOs that jump 20%+ on their first day of trading are as likely to retrace as they are to extend those gains in the immediate next session.
My take on SpaceX for Monday: The stock's performance probably depends most heavily on the news on a deal to “end” the Iran war. I wouldn’t chase Friday's gains unless I knew what the news on that front would be for tomorrow.