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The S&P 500 will initially exclude SpaceX but Elon Musk is coming for your retirement savings anyway
Key takeaways
- Officials overseeing the S&P 500 have decided NOT to fast-track the inclusion of Space X, Anthropic, and other “megacap” IPOs in its blue-chip index of stocks, according to a statement from S&P Dow Jones Indices.
- S&PDJI had considered waiving its standard rules around ownership, profitability, and trading history in order to include the companies.
- That means it will be a year or more before SpaceX et al are eligible for inclusion in the index that is often favored by people with 401(k)s or other standard retirement saving plans.
Officials overseeing the S&P 500 have decided NOT to fast-track the inclusion of Space X, Anthropic, and other “megacap” IPOs in its blue-chip index of stocks, according to a statement from S&P Dow Jones Indices.
S&PDJI had considered waiving its standard rules around ownership, profitability, and trading history in order to include the companies. Those rules seek to guarantee that only high-quality companies are included in the S&P, based on their track record of profits and the wide availability of their shares.
But it has held firm. That means it will be a year or more before SpaceX et al are eligible for inclusion in the index that is often favored by people with 401(k)s or other standard retirement saving plans.
Article preview — originally published by Fortune. Full story at the source.
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