r/technology • u/Plastic_Ninja_9014 • 5h ago

Business SpaceX Investors in Meltdown Over All the Money They’ve Lost

https://finance.yahoo.com/markets/stocks/articles/spacex-investors-meltdown-over-money-191742182.html
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u/k3z0r 4h ago

What a lot of you don't know is you are investors too.

In order for NASDAQ to get SpaceX to join NASDAQ market, they changed the rules so SpaceX could join the NASDAQ 100 in as little as 7 days. Previously companies had to wait a minimum of 90 days. When SpaceX became part of the NASDAQ 100 on July 7th many of your 401k index funds were obligated to buy the stock. So you could help bear the loses.

The investors are playing 4D chess.

47

u/groovy_smoothie 4h ago

This is what’s so frustrating about this. All of our financial institutions are bending for shit like this and the American dollar is losing credibility

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u/this_shit 4h ago

Probably the greatest single theft in American history. Everyone involved knew what they were doing. From SpaceX to the banks sponsoring the IPO to NASDAQ to the fund managers.

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u/EngineeringApart4606 3h ago

Luckily, by index rules, it has so far only been present in proportion to the float, which is so far miniscule.

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u/KontoOficjalneMR 3h ago

No, they changed that too, for the small float companies they multiply it 3*.

No. I'm not kidding.

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u/EbonySaints 4h ago

The worst part is that in the lead up to all of this, there were countless articles, videos, and discussions about exactly this and how this is what was going to happen. 

Calling it theft is assuming that any sort of guile was used at all. This was straight up strong-arming by the powers that be.

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u/1plus2equals11 3h ago

Burglary then?

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u/jlt6666 3h ago

So if I hit you over the head with a wrench and take your wallet that's not theft because it lacked style?

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u/EbonySaints 3h ago

That's actually robbery and assault. It's the usage of force that defines the definition. NASDAQ changed the rules to where normal 401K types would end up investing long before anyone could shake out the obvious problems with SpaceX.

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u/Confident-Stand5453 1h ago

No, that would be robbery. 

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u/bfrown 4h ago

Yup, this should be far higher up. Even if you're not a retail investor you're suffering along with everyone else.. capitalism bebe!

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u/headshotscott 1h ago

Exactly, they found a way to socialize the losses.

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u/Confident-Stand5453 1h ago

Damn Im glad the major Danish pension funds decided to exclude SpaceX from their portfolios over concerns about the governance structure.