What Happened
Nasdaq Rewrites Rules For Largest IPO On Record
SpaceX’s upcoming IPO, potentially the largest on record, is forcing changes to index and underwriting rules. Nasdaq has rewritten its rules to accommodate companies like SpaceX, allowing for faster inclusion in indices and removing the 10% minimum float requirement. This move may benefit insiders, but could lead to significant volatility and impact retail investors. The IPO is expected to raise $75 billion and value the company at $1.75 trillion to $2 trillion, as reported by Forbes.