SpaceX prefers to go public on NASDAQ, provided it is included in the NASDAQ 100 Index as soon as possible
According to Reuters, sources say that Elon Musk's SpaceX is leaning towards going public on Nasdaq. SpaceX hopes to be included in the Nasdaq 100 index as soon as possible, which is seen as one of the necessary conditions for its listing on the exchange.
Earlier reports indicated that SpaceX is planning an IPO, potentially as early as June. Insiders say that the New York Stock Exchange is also vying for this listing project, and currently, neither exchange has been informed of the final decision. Nasdaq proposed a new rule last month that could expedite the inclusion of newly listed large companies into the Nasdaq 100 index.
Under the "fast track" rule, if a newly listed company's market capitalization ranks among the top 40 of the existing index constituents, it can qualify for accelerated inclusion within less than a month after going public. The proposed changes have not yet been finalized and may take several months to take effect. Insiders indicate that SpaceX's IPO is seeking a valuation of about $1.75 trillion, which, based on the latest stock prices, would make it the sixth-largest company by market capitalization in the United States.
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