And anyway, the rule change is truly the only reasonable way they can react to the current situation.
It will absolutely be untenable to keep Anthropic , OpenAI and SpaceX off the S&P 500 with them also being the highest valued companies on the market.
Without the proposal, you'd have outrage out the other side that it wasn't included (especially if it shoots off like, well, a rocket).
We live in an age proving that valuation is just a manipulation.
This whole story is just like the BaM situation: the people with more money feel emboldened to pull every dastardly trick they can to tilt the table towards their pockets, away from the honest participants. SpaceX and the AI IPOs are just the latest and most grand scheme. I’m guessing you were surprised by the collapse of lehman brothers back in the day.
It’s and interesting point. I’ve done a bit of searching and am also empty handed.
I don't know how I could? The indices have already provided their reasoning for these rule changes, but that's just summarily rejected by the conspiracy-minded.
To laymen this appears to be a grand conspiracy. Rules are being changed to accommodate big companies, that's usually bad.
To people in the financial industry, it's fait accompli. The indices exist to reflect the market, these IPOs are going to be big enough that the 90s-era rules will/would result in untenable divergence.
This deal has been pushed hard to be included prematurely in the indexes to the point that Nasdaq changed the rules.
The accusation is that these changes were made so that index funds will buy this stock automatically far earlier than they would have previously. Given the… uh… astronomical asking price, it looks like SPCEX is meant for Elon stans and institutional index investors to be the bag holders.
Pushed by whom? Can you link some reporting on this topic?
> Given the… uh… astronomical asking price, it looks like SPCEX is meant for Elon stans and institutional index investors to be the bag holders.
"asking price" lmao, buyers decide the prices they'll buy at.
Edit: I wonder, why is pointing out that this apparently massive conspiracy hasn't been covered by a single credible news outlet worthy of so many downvotes?
Not if they're index funds. They buy at the price it is, until they've satisfied their holdings represent the appropriate share of the market. Which, pre-IPO and early-days-after-IPO, is likely to not be accurate to the long-term price.
I’m not going to cite sources for a major financial news story that is being extensively covered in the financial and general press.
https://www.bloomberg.com/opinion/newsletters/2026-05-26/ind...
Perhaps you can provide a single counterpoint? I can't find the columns you refer to.
The SP500 did not waive the rules, and that made above the fold news this week, because it is a major blow to the big IPOs happening this month since they are valued so high. It will be harder for them to move stock if the massive index funds aren’t buying automatically. The big IPOs this month are asking for prices that demand hundreds of billions or trillions of dollars of liquidity. Index funds are automatic liquidity, but only if you are on the index.
They didn’t ask them to change long standing rules for shits and giggles.
Who are "They"? Did you maybe forget the ((())) or are we just supposed to guess? I don't know if you intended it that way, but using the vague nudge-nudge wink-wink "they" like this sure comes across as an antisemitic dog whistle.
> That is one of the columns. The headline makes my point succinctly
Regardless of how you choose to interpret the headline, the actual column seems to say the very opposite of what you claim.
It’s clear you aren’t interested in a good faith conversation. Thanks for the discourse either way.
Also, you're getting the most basic details wrong. Nasdaq didn't change their listing requirements. SpaceX has been eligible for listing under their rules for years.
>index providers will have to decide: Are they in the business of giving passive investors exposure to all the stocks that the market thinks are good, or to all the stocks that the index committee thinks are good?
>There’s only one plausible answer.
Can you explain why your theory is better than the one widely believed by people who actually work in the financial industry?
My theory is better because it isn’t ignorant of the billionaire dynamics in play.
I'm not criticizing bloomberg, i'm criticizing you for posting paywalled links to support your position in an open discussion.
Given I'm bailing on this convo now because hackers news is a shite application getting in the way of people trying to talk, let me respond to our sibling thread with the closet thing my opinion has to evidence: https://fred.stlouisfed.org/graph/?g=smH. IMO we remain at an all time high of financial flimflammery as a portion of our GDP and there have been a number of recessions triggered by the financial sectors malfeasance during my lifetime because of it.
Yet, somehow, no journo covering the world's leakiest industry has been able to break this massive-if-true story.