Egregoros

Happy stock market scam day! Might not be too late to tell your boomer parent/grandparents that they probably shouldn't be investing in IPOs and specially this particular one (guess how I know its an issue…).

@feld getting out of index funds (at least ones that are forced to buy it) seems like a pretty reasonable option to me, at least for retirement accounts.

@feld from that article.

@feld @mackuba nope special "fast entry" rules will cause it to be included within 15 days with amounts increased numerous times through out the first 180 days.

I spent some time today going into a rabbit hole of the SpaceX IPO. Thought it was a space company. Turns out it’s a small telecom company that's propping up a space company (not very well at that) and the entire thing is being dragged down by the crappiest of the AI companies.

I then spent even more time researching how one shorts an IPO…

@mackuba @feld index funds track the Nasdaq, the rules of Nasdaq were changed such that 15 days after IPO SpaceX can join the Nasdaq. So 15 days after the IPO funds will automatically buy the stock, somewhat regardless of price.

If you are a passive investor you might want to read up on the goofy rules that are going to force massive purchases of SpaceX once it goes public for certain index funds. Great news if you own SpaceX now, not so great if you want to avoid anything Elon.

What a wonderful future where people are scalping Mac Studios.

Neat new Apple AirTag! Maybe it'll help them find Apple's corporate soul.