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  "path": "/2026/06/bummer-of-birthmark-elon.html",
  "publishedAt": "2026-06-06T00:56:00.000Z",
  "site": "https://40yrs.blogspot.com",
  "tags": [
    "S&P will not be waiving its rules for inclusion into its S&P 500 index",
    "requirements are",
    "record-breaking IPO",
    "Nasdaq and FTSE Russell",
    "Bloomberg reports"
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  "textContent": "Unlike Nasdaq and a number of other stock indices, S&P will not be waiving its rules for inclusion into its S&P 500 index for the SpaceX IPO.\n\nThese requirements are:\n\n  * Last quarter earnings and the sum of the last four quarterly earnings must both be positive.\n  * Annual trade volume must meet or exceed the market cap.\n  * 12 months have passed since the initial public offering.\nUS-based. The company trades on a US exchange, a plurality of its assets are US-based, and the headquarters are in the US\n  * The company must be a corporation that issues common stock. It cannot have multiple share structures.\n  * Unadjusted market cap is at least $8.2 billion.\n  * The IWF is at least .10.\n\n\n\nWith a $75 billion IPO on a $1.75 trillion (IWF=0.04) it means that SpaceX would not qualify for inclusion for well over a year.\n\nThe company fulfills only one of the requirements for a listing.\n\nConsidering the large number of funds that either in whole or in part invest in the S&P 500 as an index fund, this means that about $14 billion in forced purchase of the stock will not occur.\n\nSo about 20% of guaranteed demand for the IPO won't be there.\n\n> Despite an expected record-breaking IPO, SpaceX will still have to follow the rules and wait at least a year before it’s added to the S&P 500, the benchmark behind many Americans’ retirement funds\n\n> S&P Dow Jones Indices announced Thursday that it is keeping its eligibility rules intact for the S&P 500 and several other major indexes. Indexes are benchmarks that track specific slices of the stock market. The best known is the S&P 500, which tracks 500 of the largest publicly traded companies in the United States.\n>\n> Many index funds and exchange-traded funds (ETFs) hold stocks that mirror these benchmarks in an effort to replicate their performance. These funds are a key part of many 401(k)s, pension funds, and retirement accounts.\n>\n> ………\n>\n> Other index providers, including Nasdaq and FTSE Russell, have already changed their rules to allow companies like SpaceX to join some of their indexes sooner.\n>\n> But the S&P 500 remains the most widely tracked equity benchmark in the world. Roughly $7.5 trillion in passively managed funds follow it, Bloomberg reports.\n>\n> If SpaceX had been fast-tracked into the index, it would have resulted in about $14 billion in forced passive buying of the company’s stock, according to an estimate by Bloomberg Intelligence.\n\nHow dare they interfere with Elon Musk's God given right to commit stock fraud.",
  "title": "Bummer of a Birthmark, Elon",
  "updatedAt": "2026-06-06T05:06:01.091Z"
}