SpaceX has been added to the Nasdaq-100 index just 15 days after its initial public offering, an unusually rapid inclusion that followed a change to the exchange’s rules. The company’s IPO was valued at a reported $1.75 trillion, among the largest on record.
The Nasdaq-100 tracks many of the largest non-financial companies listed on the exchange. Inclusion typically follows a waiting period, and the report notes that the standard listing requirement of roughly three months was bypassed in this case.
Critics quoted in the account characterize the accelerated entry as a special accommodation. Index membership can drive demand for a stock, as funds that track the benchmark adjust their holdings to reflect the new constituent.
The episode has drawn attention to how index providers apply their criteria for high-profile listings. For SpaceX, swift inclusion reinforces its prominence in public markets following one of the year’s most significant offerings.
Created by Ayen Stabel.
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Sources:
https://www.cnbc.com/world/