Comment 4-5% Float with hidden rule changes (Score 1) 120
SpaceX plans a float of 5% AND per the NASDAQ weights it with a "NEW and IMPROVED" hidden multiplier of 3X!
So SpaceX will get weighted at 15% for the index. Oof.
So they retain 95% of the shares to slowly dribble out when they need cash.
In return you get a 401k with a giant turd "floating" there.