BREAKING FINANCIAL NEWS: Reuters | SpaceX blocked from early US benchmark index entry as S&P reaffirms existing rules
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S&P 500: No Fast Track For SpaceX
"But S&P said "exceptions to the financial viability, seasoning, and IWF (investable weight factor) requirements should not be granted solely based on market capitalization".
"To be included in the S&P 500, a company must be profitable under Generally Accepted Accounting Principles in its most recent quarter as well as for the sum of its most recent four quarters, according to one of the rules S&P left unchanged."
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S&P 500: No Fast Track For SpaceX (cont)
"S&P consulted with investors about shortening the time a megacap company must be publicly listed before joining its indexes, waiving minimum float requirements and removing its profitability requirement."
"The S&P 500 is Wall Street's most widely followed benchmark. Passive S&P 500 index funds with trillions of dollars in assets would have been forced to buy up SpaceX shares had rules been changed to admit it to the index."
3/
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BREAKING FINANCIAL NEWS: Reuters | SpaceX blocked from early US benchmark index entry as S&P reaffirms existing rules
THIS IS A HUGE VICTORY FOR INVESTORS AND YOUR RETIREMENT
"S&P Global said on Thursday it was not changing the requirements for entry into its major indices, dealing a setback to Elon Musk's SpaceX by effectively ruling out a swift entry for the world's biggest-ever IPO into the benchmark S&P 500 index."
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YAY!!!!!!
a huge relief to those of us who are too tired and/or too disabled to lose our retirement because there's no going back to work & getting it back...
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QQQ is Nasdaq and it will fast track SpaceX
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BREAKING FINANCIAL NEWS: Reuters | SpaceX blocked from early US benchmark index entry as S&P reaffirms existing rules
THIS IS A HUGE VICTORY FOR INVESTORS AND YOUR RETIREMENT
"S&P Global said on Thursday it was not changing the requirements for entry into its major indices, dealing a setback to Elon Musk's SpaceX by effectively ruling out a swift entry for the world's biggest-ever IPO into the benchmark S&P 500 index."
1/
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S&P 500: No Fast Track For SpaceX (cont)
"S&P consulted with investors about shortening the time a megacap company must be publicly listed before joining its indexes, waiving minimum float requirements and removing its profitability requirement."
"The S&P 500 is Wall Street's most widely followed benchmark. Passive S&P 500 index funds with trillions of dollars in assets would have been forced to buy up SpaceX shares had rules been changed to admit it to the index."
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@mastodonmigration
It's also a sign that none of those profitability requirements would be met. -
S&P 500: No Fast Track For SpaceX (cont)
"S&P consulted with investors about shortening the time a megacap company must be publicly listed before joining its indexes, waiving minimum float requirements and removing its profitability requirement."
"The S&P 500 is Wall Street's most widely followed benchmark. Passive S&P 500 index funds with trillions of dollars in assets would have been forced to buy up SpaceX shares had rules been changed to admit it to the index."
3/
@mastodonmigration This is a victory for Humanity in general!
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S&P 500: No Fast Track For SpaceX (cont)
"S&P consulted with investors about shortening the time a megacap company must be publicly listed before joining its indexes, waiving minimum float requirements and removing its profitability requirement."
"The S&P 500 is Wall Street's most widely followed benchmark. Passive S&P 500 index funds with trillions of dollars in assets would have been forced to buy up SpaceX shares had rules been changed to admit it to the index."
3/
S&P 500: No Fast Track For SpaceX (cont)
If S&P is serious about not removing the profitability requirement, it's very possible that SpaceX will never meet eligibility requirements for the S&P 500.
This is absolutely catastrophic for Musk and Nasdaq's Mega-Cap Squeeze (https://mastodon.online/@mastodonmigration/116693970097030371) as it likely requires the huge pool of S&P backed index funds forced purchases to keep the squeeze going.
It will be interesting to see what happens now with Nasdaq, Russell and CRSP
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@mastodonmigration This is a victory for Humanity in general!
ABSOLUTELY
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BREAKING FINANCIAL NEWS: Reuters | SpaceX blocked from early US benchmark index entry as S&P reaffirms existing rules
THIS IS A HUGE VICTORY FOR INVESTORS AND YOUR RETIREMENT
"S&P Global said on Thursday it was not changing the requirements for entry into its major indices, dealing a setback to Elon Musk's SpaceX by effectively ruling out a swift entry for the world's biggest-ever IPO into the benchmark S&P 500 index."
1/
@mastodonmigration thank god, now I won't have to root through indexes to figure out how to avoid SpaceX and AI
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@mastodonmigration thank god, now I won't have to root through indexes to figure out how to avoid SpaceX and AI
Oh you still do!
Nasdaq (QQQ), Russell and CRSP backed indexes (including the super popular Vanguard Large Cap Index) still have the fast track rules. In the case of CRSP they will be forced to buy 5 days after the IPO.
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S&P 500: No Fast Track For SpaceX (cont)
If S&P is serious about not removing the profitability requirement, it's very possible that SpaceX will never meet eligibility requirements for the S&P 500.
This is absolutely catastrophic for Musk and Nasdaq's Mega-Cap Squeeze (https://mastodon.online/@mastodonmigration/116693970097030371) as it likely requires the huge pool of S&P backed index funds forced purchases to keep the squeeze going.
It will be interesting to see what happens now with Nasdaq, Russell and CRSP
@mastodonmigration thanks.
good. -
S&P 500: No Fast Track For SpaceX (cont)
"S&P consulted with investors about shortening the time a megacap company must be publicly listed before joining its indexes, waiving minimum float requirements and removing its profitability requirement."
"The S&P 500 is Wall Street's most widely followed benchmark. Passive S&P 500 index funds with trillions of dollars in assets would have been forced to buy up SpaceX shares had rules been changed to admit it to the index."
3/
@mastodonmigration are you soaked in champagne?
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Oh you still do!
Nasdaq (QQQ), Russell and CRSP backed indexes (including the super popular Vanguard Large Cap Index) still have the fast track rules. In the case of CRSP they will be forced to buy 5 days after the IPO.
@mastodonmigration @jeremy_degroot
So one method would be to simply choose medium cap, yes?
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YAY!!!!!!
a huge relief to those of us who are too tired and/or too disabled to lose our retirement because there's no going back to work & getting it back...
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@mastodonmigration @jeremy_degroot
So one method would be to simply choose medium cap, yes?
@ProcessParsnip @mastodonmigration that or equal weight indexes
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Oh you still do!
Nasdaq (QQQ), Russell and CRSP backed indexes (including the super popular Vanguard Large Cap Index) still have the fast track rules. In the case of CRSP they will be forced to buy 5 days after the IPO.
@mastodonmigration @jeremy_degroot
but for those of us in an S&P index fund, it's a breath of relief
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@mastodonmigration @jeremy_degroot
but for those of us in an S&P index fund, it's a breath of relief
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S&P 500: No Fast Track For SpaceX (cont)
"S&P consulted with investors about shortening the time a megacap company must be publicly listed before joining its indexes, waiving minimum float requirements and removing its profitability requirement."
"The S&P 500 is Wall Street's most widely followed benchmark. Passive S&P 500 index funds with trillions of dollars in assets would have been forced to buy up SpaceX shares had rules been changed to admit it to the index."
3/
@mastodonmigration let this be a signal to the other ai companies trying to cash out.
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BREAKING FINANCIAL NEWS: Reuters | SpaceX blocked from early US benchmark index entry as S&P reaffirms existing rules
THIS IS A HUGE VICTORY FOR INVESTORS AND YOUR RETIREMENT
"S&P Global said on Thursday it was not changing the requirements for entry into its major indices, dealing a setback to Elon Musk's SpaceX by effectively ruling out a swift entry for the world's biggest-ever IPO into the benchmark S&P 500 index."
1/
@mastodonmigration Well, that saves me from a bunch of very hurried 401(k) reallocation this weekend.
Still, might be time to move to a nice European-market index.
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R relay@relay.an.exchange shared this topic
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BREAKING FINANCIAL NEWS: Reuters | SpaceX blocked from early US benchmark index entry as S&P reaffirms existing rules
THIS IS A HUGE VICTORY FOR INVESTORS AND YOUR RETIREMENT
"S&P Global said on Thursday it was not changing the requirements for entry into its major indices, dealing a setback to Elon Musk's SpaceX by effectively ruling out a swift entry for the world's biggest-ever IPO into the benchmark S&P 500 index."
1/
@mastodonmigration That is great news; I might have had to sell some of my retirement investments otherwise. If they hadn't done this, the index funds would have had to buy at the peak of the hype, and then everyone who invested in index funds would have a significant loss once the hype fades and the market figures out a more realistic price.
QQQ
SPX
!!!
