SpaceX denied fast-track S&P entry, begins investor roadshow

STORY: SpaceX will not be getting fast-track entry into the S&P 500 after all.On Thursday, index operator S&P Global said it would not change the rules for inclusion.The rocket firm is set for a record share listing next week.That could see it raise $75 billion and secure a valuation of $1.75 trillion, immediately making it one of America’s top 10 most valuable listed firms.But S&P says it won’t change the rules to allow rapid entry into its benchmark index.Among other things, that requires a firm to be profitable in its most recent quarter, and in sum for its last four quarters.That rules out SpaceX, which posted a loss of close to $5 billion in 2025.One analyst praised S&P for standing firm, saying the rules shouldn’t be bent for unprofitable firms just because they are big.The rival Nasdaq index has taken a different view, however.It has already changed its rules to allow easier access for newly listed so-called “megacap” stocks.That will force Nasdaq tracker funds to buy large sums of SpaceX shares.The same could be true for OpenAI and Anthropic, if the chatbot makers proceed with hotly anticipated IPOs.Separately Thursday, SpaceX began a roadshow for investors ahead of its listing.Musk spoke to JPMorgan clients in a video interview with bank boss Jamie Dimon.Other major lenders including Bank of America and Morgan Stanley are hosting events over the coming days.