What is the story about?
Elon Musk's rocket and satellite maker SpaceX is reportedly leaning toward listing its shares on the Nasdaq. In what could rank as the biggest initial public offering of all time. That's according to four people familiar with the company's thinking. Two of the sources said SpaceX wants early inclusion on the Nasdaq 100 index as a condition for listing on the exchange.
It was previously reported that SpaceX is planning an IPO as early as June. Multiple sources said the New York Stock Exchange is also competing for the listing. And neither exchange has been informed of a decision either way.
Also Read: IndiGo shares in focus after CEO Pieter Elbers resigns
The Nasdaq 100, owned by Nasdaq Inc., is seen as a premier blue-chip index by large institutional investors. And serves as a barometer for the health of most of the world's biggest publicly traded names.
These include megacap technology stocks like Nvidia, Apple and Amazon.com. The Nasdaq 100 gained about 21% last year and is slightly lower so far this year.
Nasdaq proposed a new rule last month that could potentially speed up the addition of newly listed megacap companies to the Nasdaq 100 index. But the change could take several months to take effect.
It was previously reported that SpaceX is planning an IPO as early as June. Multiple sources said the New York Stock Exchange is also competing for the listing. And neither exchange has been informed of a decision either way.
Also Read: IndiGo shares in focus after CEO Pieter Elbers resigns
The Nasdaq 100, owned by Nasdaq Inc., is seen as a premier blue-chip index by large institutional investors. And serves as a barometer for the health of most of the world's biggest publicly traded names.
These include megacap technology stocks like Nvidia, Apple and Amazon.com. The Nasdaq 100 gained about 21% last year and is slightly lower so far this year.
Nasdaq proposed a new rule last month that could potentially speed up the addition of newly listed megacap companies to the Nasdaq 100 index. But the change could take several months to take effect.
