BREAKING FINANCIAL NEWS: Reuters | SpaceX blocked from early US benchmark index entry as S&P reaffirms existing rules
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@mastodonmigration @skewray Exactly. This is that Geordi image expressing disgust at QQQ (the symbol for the Invesco QQQ index fund, which tracks the NASDAQ 100) and approval of SPX (the symbol for the S&P 500 index).
SpaceX’s intended symbol will be SPCX.
Got it. Completely agree.
Now it is important to focus our ire on Nasdaq, CRSP and Russell.
Check out this smug bastard. NASDAQ CEO Nelson Griggs knows just what he's doing...
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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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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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@mastodonmigration @briankrebs Good, now I only have to exit QQQ and the Large Cap index immediately.
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R relay@relay.mycrowd.ca shared this topicR relay@relay.infosec.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."
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@mastodonmigration
Awesome -
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 Great news! Yay Spiders, boo Qubes!
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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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@mastodonmigration Now is a good time to call your CFP or investment agency and ask them to make sure your accounts don't buy SPCX or derivatives as part of your portfolio.
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@mastodonmigration Now is a good time to call your CFP or investment agency and ask them to make sure your accounts don't buy SPCX or derivatives as part of your portfolio.
CRSP, Russell and FTSE US large capMastodon Migration (@mastodonmigration@mastodon.online)
So maybe you are breathing as sign of relief tonight that your S&P 500 fund is not going to be 'fast tracked' into buying SpaceX immediately after it IPOs. But what about folks that own Vanguard Total Stock Market or Large-Cap Index Funds tracking Morningstar CRSP indexes. What about Russell Top 50, Top 200, Russell 1000 funds, FTSE All-World and FTSE World Index. Well tough luck, your funds are still going to be buying SpaceX at the IPO price five days after it goes public. #SpaceX #SpaceXIPO
Mastodon (mastodon.online)
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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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@mastodonmigration
The consequences of this will pop the AI bubble. Just remember i said it when happens. -
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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@mastodonmigration I finally figured out how to tell this story and now I have to change it again lol
but good, because _goddamn_
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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
"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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@mastodonmigration looks like they will still end up in the NASDAQ, various FTSE indexes and even S&P Global ... so, better than it was, but still horrific
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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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Excellent news!!!
