Here's some more of his banger takes from the same panel https://t.co/xTJbN3BO1x pic.twitter.com/9WS60SqZEq

— Ken Kirtland IV (@KenKirtland17) June 13, 2026

lb3 said:

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Waffledynamics said:

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Is this actually going to be a good buy, or is it just hype? Can't decide if it would be a bad idea to buy or not.

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If TerraFab comes online in the next 5 years, SPCX will pass Nvidia and TSMC in global importance regardless of whether we have data centers in space. At some point in the next 5 years I expect SpaceX will acquire Tesla. SpaceX's AI role and Tesla's robotics fit too well together not to merge.

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This is a good point. Rain or shine, Musk's companies have become vitally important to our national security.

JTA1029 said:

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Damn that must be where I messed up. I had signed up for 100 shares but didnt "affirm" my interest.

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I literally could not navigate through the seven prospectus on fidelity's app in order to put in my order for the IPO. I was listening to CNBC minutes before the stock went live and they were talking about the expected value. Put in my limit trade. 10 minutes later got a confirmation message. So that's META and now SPCX I purchased on ipo day with limit buys.

SPCX down 6% today and has gone down 20% since last Wednesday.

Anyone else picking up more shares?

I am probably mistaken but I think funds that track the "CRSP US Total Market Index" like VTI have to start buying SPCX after the close today so I am surprised to see this drop.

I bought SSPC last Thursday, and decided to close it out at a 24% gain a few minutes ago. I have plenty of access to SPCX through ETFs and mutual funds, so wanted to hedge a bit on the heated IPO. Worked out!

Going digging... Here's what Morningstar has to say about the Indexes...

https://www.morningstar.com/funds/spacex-ipo-how-index-funds-are-adapting

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S&P
The S&P tweaked the float criteria for its suite of broad US indexes on June 4 but notably abstained from loosening its long-standing profitability requirementa rule that requires new additions to have positive earnings in the most recent quarter and the most recent four quarters combined. This prevents SpaceX, OpenAI, Anthropic, or other IPOs from being added to the S&P 500 roster for at least one year.
Another Musk company, Tesla TSLA, failed this screen for over a decade before being added to the bogy in 2020.
Once any of these firms satisfy this "financial viability" requirement, they don't necessarily have to float at least 10% of shares. They'd be added once the stock's float-adjusted market capitalization is greater than or equal to 10% of the 100th largest company in the S&P Total Market Index, ranked by total market capitalization.
Regardless of when SpaceX is added, trillions of dollars of index fund assets tied to the S&P 500 will rebalance. Further, the myriad active managers who maintain some mandate to that index may also have to adjust their portfolios to reflect the change in benchmark composition.

CRSP
The Center for Research in Securities Prices, acquired by Morningstar in early 2026, was one of the only index providers that had previously admitted IPOs ahead of any scheduled rebalance, and it remains the case this year. CRSP allows new IPOs into its suite of market indexes after five trading days if they pass the index's eligibility and investability screens.
The eligibility screen was tweaked earlier this year to allow low-float companies into its benchmarks. Fast-track IPOs now must have at least 10% float or have a float-adjusted market that's at least 0.005% of the "index-eligible universe"roughly $3.3 billion as of March 2026. CRSP only applied the 10% float test for fast-track IPOs previously.
Since over $3 trillion in Vanguard index funds track CRSP US market indexes, eligibility and investability screens are crucial. Quickly adding new IPOs to an index allows that index to better reflect its target market, but the point is moot if funds aren't able to efficiently buy or sell the newly public stock.

Russell
Russell's new fast-entry rule allows large IPOs into its suite of market indexes after five trading daysthe same as CRSP. It only applies to sizable IPOs with float-adjusted market caps that rank in the top 500. This cutoff would be roughly $17.5 billion as of May 31.
Previously, its US equity indexes, including the Russell 1000, granted IPOs entry at each scheduled quarterly rebalance but only if the stock also met certain other eligibility requirements, like a 5% minimum float and 5% minimum public voting share. The recent update does not require a minimum float or voting percentage for fast-track IPOs.

MSCI
MSCI has not changed its rules. MSCI's US market indexes admit IPOs after 10 trading days as long as they're at least 80% larger than MSCI's minimum size requirement. This policy has been in place since 2007. On May 31, 2026, the minimum size requirement was about $13 billion, making fast-track IPOs eligible with float-adjusted market caps above roughly $23.4 billion.
Fast-track IPOs do not need to meet free-float requirements or a liquidity screen.

Nasdaq
Nasdaq's new rule clearly targets only the largest IPOs and even favors such offerings in its newly modified weighting scheme.
For fast entry, a newly public company must rank within the top 40 holdings of the Nasdaq-100 Index by total market cap. This meant a total market cap of roughly $149.4 billion on May 31. SpaceX easily qualifies.
Nasdaq waits 15 trading days before adding any IPO to its flagship index to avoid possible early volatility in those stocks' prices. This makes it easier and cheaper for index funds to implement any adjustment. After 15 days, it scales a large IPO's float-adjusted weight up by 3 times until its float ratio reaches 33.3%. This multiplier is down from the 5 times weighting adjustment considered in the original proposal, but it's still somewhat arbitrary and gives more prominence than might be deserved to a low-float company. This slightly distorts the total picture since the rest of the portfolio is weighted by float-adjusted market cap.
With hundreds of billions pegged to the Nasdaq-100 Index, scaling up the weight of a low-float company triples the amount of SpaceX stock that Invesco QQQ Trust QQQ and other Nasdaq-linked index funds will have to buy. In isolation, these purchases should amount to only a few percentage points of the company's available shares, but across dozens of other index funds, it adds up.

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The impact of the low float!!! I'm seeing estimates of roughly 4% -- 7%

Quote:

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Float Will Determine SpaceX's Market Impact
A total market capitalization of $2.11 trillion at the end of its first trading day makes SpaceX the seventh largest public company in the world. However, it will not immediately be one of the largest holdings in broad index funds. Its puny initial float limits its immediate size in many index funds. The company's float-adjusted market cap of nearly $90 billion places it outside the top 100 and is expected to collect less than 0.20% of Vanguard Total Stock Market ETF VTI once added.

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I finally figured out how to turn off Fidelity IPO alert e-mails.

Kenneth_2003 said:

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Going digging... Here's what Morningstar has to say about the Indexes...

https://www.morningstar.com/funds/spacex-ipo-how-index-funds-are-adapting

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Since Friday wasn't a trading day I think that means the buying for the two indexes that set the time to 5 days would have been yesterday or today. I'm not sure if its added after 5 trading days or on the 5th trading day... Or if last Monday counted as a full trading day since it didn't start trading untill mid day.