Lates News

Standard & Poor's Dow Jones Indices announced on Thursday that they will continue to maintain the current eligibility requirements for major benchmark indices such as the S&P 500, rejecting the proposal to quickly include high market value companies like SpaceX after they go public. The index provider stated in a release that they will not shorten the 12-month seasoning period currently set for new listings, and will not waive the existing profitability and public shareholding requirements based on company size. This decision goes against the broader industry trend adopted by their competitors Nasdaq and FTSE Russell. This outcome means that SpaceX, which is preparing for what could be the largest IPO in history, will not be eligible to be included in the S&P 500 for at least one year after going public. The company will also need to meet the current profitability and public shareholding requirements of the index. ETF analyst James Seyffert commented, "I am really surprised. But S&P is a market leader and they can go against the trend."