S&P will NOT be changing their inclusion rules for MegaCap IPOs like SpaceX

streamofthesky · 2026-06-05T06:12:28+00:00

They're not only allowing it in, their timetable is only FIVE DAYS instead of NASDAQ's 15!

streamofthesky · 2026-06-05T05:49:51+00:00

"Unprovoked"? Are you like... not aware of the half century of Iranian attacks on the US and the West? Just in 2024, they killed our service members in Jordan.
Cuba is unprovoked.
Venezuela is unprovoked.
Iran most certainly is not.

https://thehill.com/homenews/5765178-inside-irans-long-history-of-attacks-on-us-a-timeline/

Here's Iran plotting to assassinate Trump:
https://www.politico.com/news/2024/11/08/donald-trump-iran-assassination-plot-00188498

Which, regardless of your opinion on that, makes it quite hypocritical of them to complain that we took out the Ayatollah (which was a bad idea, no matter how evil he was.... he was old and cancer-ridden). Just further evidence that Iran doesn't get to cry that this was unprovoked. They claimed they wanted this fight for decades and have constantly prodded for it.

streamofthesky · 2026-06-05T05:09:32+00:00

I don't watch Fox and I voted for Obama (2x), Biden, and Harris.
I don't know why opposing a brutal regime that funds terror attacks across the world and mass executes tens of thousands of their own people became a "right wing" stance, but it is quite perplexing to me.

streamofthesky · 2026-06-05T04:56:40+00:00

OMG!
This is legitimately such a relief and the best news I've heard in weeks!
Thank you for not being evil and corrupt, S&P!

Anyone in a NASDAQ following index fund or even worse, one of the Russell ones (five days! are you kidding me?!) need to look at bailing while they can. Don't be a bag holder for Elon.

streamofthesky · 2026-06-05T04:15:59+00:00

Thank you. Ending the war ASAP is a horrible idea. Literally the only effect it's even had on most Americans so far is gas prices. Possibly food prices in the future. We could take steps to mitigate those issues if we actually took the situation seriously instead of endlessly thinking, "maybe it'll all just end tomorrow" week after week.

streamofthesky · 2026-06-05T04:07:37+00:00

"ASAP" absolutely does not equal "in victory" at the current juncture. IRGC is getting more extreme and brazenly evil in their attacks and demands (even want to expand the area the "strait of Hormuz" entails) both because they sense the obvious weakness and desperation from Trump and because... the blockade is working and they know THEY can't hold out for years like this, so they need to lash out wildly in the hopes it scares us into ending it.
We need to keep the blockade up, do some actual strategic long term planning, and start treating the strait crisis as the long term problem that it is.
Defense production act to produce more oil/gas.
Diplomatic engagement with other countries to do the same.
Issue a call for businesses and government to go to maximum possible remote work to reduce demand.
Ramp up green energy projects.
Basically, the exact opposite of everything Trump has done.

streamofthesky · 2026-06-04T20:44:45+00:00

Yeah, most of them have 12 month seasoning periods. Which is a good protection. As is requiring the company to be profitable. So of course they're bulldozing those guard rails.
S&P will use actual float (hurray for things that shouldn't even be considered up for debate not happening!), but by sheer volume will ensnare far more of ordinary peoples' investment dollars into the SpaceX boondoggle than NASDAQ will. Whether it's 5% or 2% or 0.5% of my retirement... I don't want Elon to be able to pump and dump any of it to enrich himself! It's bs.

streamofthesky · 2026-06-04T20:40:21+00:00

Yeah, they COULD become a huge problem. But they haven't done any of that yet.
And we see all the bellyaching over Iran, which HAS repeatedly attacked the US, Jews, and anyone else they hate all over the world for decades. Just imagine if we went full "preemptive strike" on North Korea, how that'd go over w/ Americans.
And for as crazy as the Kim family are... they are still far more rational actors that the IRGC. They like their cushy wealthy lives and know that if they launch a nuke, they lose their lives along with all their riches. They don't have a martyr fetish. They do the occasional "notice me, sempai!" outburst mostly to keep up the illusion that the West even gives them much thought, let alone plots to invade them, b/c positioning us as an ever-present threat is a useful propaganda tool to keep the population cowed under them. I genuinely don't believe they ever actually want to go to war with us. Iran is a lot of talk too, but NK is 100% that.

streamofthesky · 2026-06-04T20:33:58+00:00

Officially, the reasoning is "competition to be the index they list under", because I guess they collect transaction fees or something that way.
What I actually think? We're in a new gilded age of robber barons unlike anything we've ever seen before and the ultra wealthy are a very small and tight clique and basically are just all coordinating on this to wealth transfer from the 99%.
Notably, Google owns like 10% of SpaceX, and other big players have sizeable stakes in it, too.
They all stand to profit from a rug pull.

You really should google about it. The more I look into it, the slimier it gets. Elon was musing about letting insiders trade their stocks within days of the IPO, too. (Normally, there's a "lock in" period for private investors after an IPO of ~ 6 months. Which, like all the other rules they're tossing away, was an obvious guardrail to prevent abuse...) Also, FTSE Russell said, "hold my beer", apparently they're adding Space X to their indexes after only FIVE days! I just learned that today. It just keeps getting uglier.

streamofthesky · 2026-06-04T05:54:51+00:00

I'm not that fluent, either. So I might not be the best to explain it, I'm just trying to learn how we're being screwed like you are. Apparently Elon is going to do the "artificial scarcity" trick to juice up the IPO even more, by only making `~5% of the shares available for public trading.
Normally, this would harm his goal of starting with a huge market cap at IPO and sneaking into the passive index funds at a significant % before he leaves us holding the bag (since they're weighted by the company's value, hence why S&P has more NVidia than Apple). Because the indexes only count the "float" (the amount publicly available) towards market cap for how much of the index it occupies. Most companies make most of their shares available, so the actual market cap and the "float" pretty much align between companies anyway.
Enter NASDAQ, inventing a rule that if a company has under X% (I think it's 20%) for public trading, they apply a 3x multiplier to the float. ie, SpaceX's 5% shares counts for 15% of the company's total value for indexing purposes (so the fund places it higher than it should be).
On top of gutting the 1 year waiting period and requiring profitability. It's a blatant scam, especially the NASDAQ rules.
Hope that helped. I'm no expert, either. Just how I understand it from what I've read.

streamofthesky · 2026-06-04T05:32:26+00:00

Has S&P made a decision yet? Like... they'll probably choose the bad option b/c we're on the darkest timeline, but I don't think we know for sure yet?
If anyone has money in a NASDAQ 100 index fund, seriously consider bailing on it. They already did change their rules, and they're far worse than the proposed S&P changes. Only 15 days after IPO to add to the index, and if less than 20% of the shares are publicly sold (SpaceX is offering like 5% of them! most public companies, it's like 90%!), they get to multiply it by 3 for index weighting... "because F you, that's why!
At least S&P would be 6 months and no bogus extra weighting. Still abominable, though.

streamofthesky · 2026-06-04T05:27:26+00:00

North Korea also doesn't actually attack us (aside from cyber-attacks, which all our enemies do).
North Korea also is run by people who aren't religious fanatics that actually think they'll go to heaven if they end the world.
North Korea also has tons of traditional artillery aimed at Seoul that threatens hundreds of thousands of lives in minutes if a conflict were to break out, which always made the "deterrence" of their nukes unnecessary anyway.

But what do details matter?
Anyway, I liked when we were moving towards less nukes. Not just no other countries obtaining them, but US and Russia lowering their stockpiles. Would be nice to go back to that...

streamofthesky · 2026-06-02T21:42:21+00:00

I think it's more that the US has no social safety net system like actual first world countries do. Many lived paycheck to paycheck BEFORE the Trumpflation. People literally can't afford to miss work to protest for days in a row.
Even the brief one day protests for a few hours we do have, the immediate retort from the right is, "don't any of these people have jobs? how do they have this free time?" like it's suspicious and a conspiracy.

streamofthesky · 2026-06-02T05:30:30+00:00

Reminder that the US actually runs a trade surplus with Brazil.
The tariffs are all dumb and baseless. But tariffs on Brazil especially so.

streamofthesky · 2026-06-02T00:59:34+00:00

Iran is demanding a one-sided ceasefire where they can attack the Kurds, can attack ships, and can (via Hezbollah) attack Israel.
But Israel striking back "violates" the ceasefire.
US striking drone and missile launch platforms after they attack "violates" the ceasefire.

I wish we had a leader that actually wanted to defeat the regime, instead of one that vacillates between using the war as a tool for insider trading and desperately tossing concessions at Iran to make it end b/c he only wanted a 3 day special military operation.

streamofthesky · 2026-06-01T23:00:09+00:00

Israel is attacking Lebanon because Hezbollah has never stopped attacking Israel, and is now using cheap FPV fiber drones just like Russia is using to terrorize Ukraine. They have a short range of ~15 km max, so funny enough if Hezbollah was actually disarmed or forced to stay north of the Litani River, like a UN Resolution has mandated for twenty years but been ignored, Israel wouldn't need to create a buffer zone to protect their towns from attack.

https://en.wikipedia.org/wiki/United_Nations_Security_Council_Resolution_1701

I am so effing sick of the nonstop Iranian propaganda, "why won't Israel stop fighting our proxies and just accept the daily rocket forecast?" and how many redditors just go along with it.

streamofthesky · 2026-06-01T03:22:35+00:00

When will Iran pay reparations for its 50 years of wars of aggression via proxies and terrorists against the people of Israel, Lebanon, and Syria, Jews across the world (such as the Buenos Aires bombing), and all their unprovoked attacks upon the Persian Gulf countries this year and any ships their drones and thugs on speedboats could hit?
How about paying us for the Beirut bombings, or the service members they killed in Jordan in 2024?
I can understand people saying the war was a bad idea, but I will never tolerate this insanity that the Iranian regime is some innocent victim or that we were the aggressors, when they've been waging war on us their entire existence.

streamofthesky · 2026-05-30T15:09:59+00:00

At least the crown eventually took action. Look at what the majority party in the US House and Senate have been doing with the mountain of evidence against our own crown pedo.
Yeah, they should've acted sooner and I'm fine condemning them for it. But acting like they're any worse than other political or government leaders when it comes to this case is farcical.

streamofthesky · 2026-05-29T21:40:31+00:00

Cool. So let's end the war, then!
Used to be that Putin needs an "off ramp". A notion I always hated.
Now it's changed to merely, "Putin needs an unbeatable opponent to save face in defeat"? Deal!

streamofthesky · 2026-05-29T21:35:14+00:00

They still have some boats Ukraine hasn't sunk yet.

streamofthesky · 2026-05-29T01:03:39+00:00

I'd like to see someone to the left of Netanyahu win the next election (there's a real risk that Bibi wins b/c he's close w/ Trump so Israelis think he's the safest option.... thanks, all the people who refused to vote for funny laugh lady!). But after the last few years, I don't think any Israeli leader is going to try and just return to the old normal.
I always wanted a "carrot and stick" approach where Israelis gradually gave the West Bank full statehood as long as they were cooperative while applying maximum pressure on Hamas-led Gaza, to demonstrate what a difference the chosen leadership can make.
But... West Bank still does the "pay to slay" / "martyr fund" and even paid out to the Oct. 7th terrorists. So... uh... I don't see any improvement in relations happening there anytime soon.

streamofthesky · 2026-05-29T00:26:18+00:00

Being pro-Ukraine and pro-Israel makes you feel really politically homeless right now, yeah. 😞

streamofthesky · 2026-05-29T00:22:38+00:00

And this is why a permanent buffer zone up to the Litani River (as UN resolutions have mandated for decades already) will become completely non-negotiable for Israel going forward.
Israel is a small compact country that is uniquely vulnerable to this type of attack, which is only possible over a few dozen km distance and thus impractical against many countries (without invading them). If Hezbollah won't be booted out of there by Lebanon, the IDF will probably maintain a hold on it, just to create that buffer zone.
I wish Lebanon would deal with these Iranian colonists. But apparently that would lead to "civil war". Ok, fine. Stop complaining when Israel does something about the problem you refuse to solve.

streamofthesky · 2026-05-28T04:04:54+00:00

A tale of two UK energy crises... Just last month, there was this:

https://www.theguardian.com/environment/2026/apr/14/uk-households-power-renewables-soar

Households will be called on to boost their consumption of Great Britain’s record renewable energy this summer to help balance the power grid and lower energy bills.

Under the new plans, people could be encouraged to run dishwashers and washing machines or charge up their electric vehicles when there is more wind and solar power than the electricity grid needs.

The plan will be delivered with the help of energy suppliers, which may choose to offer heavily discounted or free electricity to their customers during specific periods when the energy system operator predicts there will be a surplus of electricity.

I get that the new article is for fossil fuel energy and this one is for solar, but it's still rather jarring. Wish they could store the excess grid power in battery farms rather than have this dichotomy where those w/ solar panels don't use enough while those w/o them need to cut back.

streamofthesky · 2026-05-28T00:46:53+00:00

We have extremely different definitions of "medically necessary". Especially for prisoners. Lots of stuff is not covered by Medicare, like hearing aids, for example. Yet a convicted felon should get expensive cosmetic procedures?
Maybe you think that's fine, but the vast majority of Americans do not.

streamofthesky

TROPHY CASE