As SpaceX gears up for its blockbuster IPO, Nasdaq could face lawsuits from index funds as the Nasdaq 100 rule changes trigger investments into the commercial space flight giant.
Analyst Says Nasdaq Could Be Sued
On Monday, economist and co-founder of the Center for Economic and Policy Research, Dean Baker, quoted a post by user @blockchainchick who criticized the SpaceX IPO as “the most brazen retail fleecing in modern market history,” pointing to rule changes by the Nasdaq that would force investments into the IPO.
“I assume SpaceX shareholders, especially the accidental ones in index funds (good time to get out), could sue NASDAQ for these rule changes,” Baker said in the post.
Nasdaq 100, S&P 500 Rule Changes
