SpaceX Makes a $75 Billion Offer Investors Can’t Refuse
Elon Musk’s IPO is impossible for fund managers to pass up, even if they want to.
Whether professional investors think SpaceX is the stock of a lifetime or a grossly overvalued Elon Musk conglomerate, they will be under intense pressure to buy into its initial public offering at a $1 trillion–plus valuation. The most important question for many of them will be: Can I really afford to sit this out?
Heightening Wall Street’s fear of missing out was Nasdaq’s approval on Monday to loosen the rules covering when stocks can join its indexes. Now, big enough companies can enter its large-cap index just 15 days after they are listed publicly on the exchange, even if they’re thinly traded. That’s a change from the three-month waiting period and much larger stock float previously required.