SpaceX IPO Could Upend Decades of Index-Fund Gains
SpaceX’s upcoming IPO could force trillions of passive dollars to buy SpaceX shares due to relaxed index-inclusion rules (Nasdaq-100, Russell, and possibly S&P 500) just as the company aims for a roughly $1.8 trillion valuation. SpaceX’s unprofitability, capital-intensive model, and insider lockups raise risks for index funds that have powered three decades of steady gains, potentially disrupting the stability of passive investing.


