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"SpaceX has requested unusually swift entry into several leading stock market indexes as a condition of its historic stock market debut. But the S&P 500 stock market index representing many of the largest profitable US companies has surprised market analysts by refusing to bend the rules for Elon Musk’s space and AI company.
The June 4 decision by S&P Dow Jones Indices—the company that creates and manages stock market indexes such as the S&P 500—means that SpaceX will not gain accelerated access to potentially billions more dollars through passive investment funds that automatically purchase shares of S&P 500 companies. Modifying the rules in response to SpaceX’s request could have also allowed leading AI companies such as OpenAI and Anthropic to gain entry not long after their own expected initial public offerings (IPOs). That possibility has now been shuttered."
I often come across the situations having to explain what those "AIs", and what they don't to financial decision maker class people. Each, and every time, it's a cold shower
The proposed change to 6 months is still a totally different scale than 3 weeks (15 trading days) that the Nasdaq-100 changed to. (Though I think 12 months is very reasonable and fair).
Funny though - I thought the rules were unified for indexes, but I guess not. I thought you had to have a certain market cap *and* profitability for 3 consecutive quarters before you could appear on one of these indices.
The proposed change to 6 months is still a totally different scale than 3 weeks (15 trading days) that the Nasdaq-100 changed to. (Though I think 12 months is very reasonable and fair).
Funny though - I thought the rules were unified for indexes, but I guess not. I thought you had to have a certain market cap *and* profitability for 3 consecutive quarters before you could appear on one of these indices.
By law, NASDAQ and the NYSE are self-regulated. However, I often question what exactly that means.
For example, the infamous Ponzi scheme fraudster Bernie Madoff was a member of NASDAQ's governing board and served as its chairman for three terms, along with other important and influential positions.
By law, NASDAQ and the NYSE are self-regulated. However, I often question what exactly that means.
For example, the infamous Ponzi scheme fraudster Bernie Madoff was a member of NASDAQ's governing board and served as its chairman for three terms, along with other important and influential positions.
arstechnica.com
