cross-posted from: https://piefed.world/c/tech/p/1160169/a-danish-pension-fund-has-blacklisted-spacex-calling-it-grossly-overvalued-with-catastro
AkademikerPension will not buy SpaceX shares at any price near the $1.8 trillion IPO target, saying the company cannot reasonably be worth more than $1 trillion and that Musk’s voting control makes it effectively uninvestable
Americans with 401k are about to get screwed when this IPOs. They’re wanting to change the index rules. That means every index will have to include this rotten piece of shit. Most 401ks would be affected.
The rule changes include changing how long after an IPO a stock can be included in an index fund Right now it’s a year. They want it to be weeks.
This makes me feel better about exchanging all US index funds in my 401k into International index funds. I may regret this because markets can be irrational for a long time, but it certainly feels like the US is circling the drain. The fallout will impact International of course, but what else is there to invest in?
I’m happy for you. Sadly, my employer retirement plan does not allow me to select my investments. Only target date funds which track the total world stock market. At least it’s diversified.
Teachers PF won’t touch this IPO with a 12m pole.
I don’t know how the teachers funds work. But if they invest in index funds they’ll be affected.
It depends if they invest it in funds that track the Nasdaq directly. If they do, yes then they’ll get dragged in for a fast pump and dump.