The Stock Market Will Make History on July 7. Here's What Investors Need to Know Now.
Yahoo Finance ·
Space Exploration Technologies ( SPCX 3.70% ) officially went public on June 12. In the process, it became the largest initial public offering (IPO) ever and currently has a total market cap of more than $2 trillion. On July 7, the company and the stock will make history again. Not only will SpaceX officially join the Nasdaq-100 index, but it'll also be the first to do so under the newly created "fast-track entry" rules for mega-IPOs. Nasdaq announced these new rules in May: For the very largest new listings, those that rank within the top 40 of current Nasdaq‑100 constituents by Full Market Capitalization, there is also a Fast Entry pathway. These companies are evaluated on their seventh trading day and, if eligible, added shortly thereafter, with all existing liquidity requirements still applying. This means that new listings meeting both size and liquidity requirements can be added to the index as soon as the 15th trading day following the IPO. The biggest reason for the policy change is SpaceX, but it's also due to the likely imminent IPOs on Anthropic and OpenAI. Both of those companies could be debuting with multitrillion-dollar market caps as well.
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