Los Angeles Times6-20

SpaceX IPO values company at $2.1 trillion after 19.2% debut jump, setting stage for rapid Nasdaq 100 inclusion

SpaceX has gone public in the U.S., debuting with a valuation of $2.1 trillion after its stock rose 19.2% on the first day. Nasdaq has changed its rules to let ultra-large IPOs enter the Nasdaq 100 after just 15 trading days, which could force index-tracking funds such as the $477 billion Invesco QQQ to buy the stock. SpaceX would not qualify for the S&P 500 for now because the index requires at least 12 months of trading history and a profit record, while SpaceX has posted consecutive losses.

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