this post was submitted on 07 Jun 2026
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SpaceXs initial valuation is so large it will distort the market, and they changed the rules so the index funds will all buy shares automatically to balance their portfolios, which will shoot the price up and balloon the valuation even further, then Elon and the investors that helped him buy twitter can sell at ludicrous prices at the expense of American 401ks and and passive managed pension funds.
It's a trillion dollar rug pull in broad daylight.
Edit- Nasdaq changed their rule, S&P has not.
https://fortune.com/2026/06/06/spacex-openai-anthropic-mega-ipo-sp500-inclusion-nasdaq-russell/
https://archive.ph/PzlmN
That's what they want to happen, but the biggest index fund are already shutting that down. The main losers are going to be his die hard sycophants, who won't be able to help themselves from buying this trap.
On behalf of my 401k, thank goodness.