Yeah, the trick was only with the NASDAQ 100 as the SP500 ended up saying no to changing their index rules to allow inclusion of SpaceX stock so shortly after IPO.
The point however does stand for people whose pension and index funds are invested in or follow the NASDAQ 100 index as what was predict would happen to the value of those shares after IPO (and the reason why the indice before did not include stock so shortly after IPO) happened: the price spiked immediatelly after IPO just as the funds tracking the indice were forced to buy that stock, quickly collapsed afterwards and is still now below even IPO price (and well below the post IPO price spike).
SpaceX didnt get into SP500
Yeah, the trick was only with the NASDAQ 100 as the SP500 ended up saying no to changing their index rules to allow inclusion of SpaceX stock so shortly after IPO.
The point however does stand for people whose pension and index funds are invested in or follow the NASDAQ 100 index as what was predict would happen to the value of those shares after IPO (and the reason why the indice before did not include stock so shortly after IPO) happened: the price spiked immediatelly after IPO just as the funds tracking the indice were forced to buy that stock, quickly collapsed afterwards and is still now below even IPO price (and well below the post IPO price spike).