Reddit's Spidey Sense Is Tingling: Is the SpaceX IPO Just 401(k)s Getting Played?
SpaceX is pricing at $1.75 trillion while losing $5B a year, and the NASDAQ rule change that paved its path is getting serious DD attention on Reddit
Ticker Ratings
| Ticker | Rating | Entry Price | Current | $ Gain | % Gain |
|---|---|---|---|---|---|
| COIN Coinbase Global, Inc. | sell | $151.60 | — | — | — |
Reddit's investing communities are buzzing about the SpaceX IPO — priced at $135/share targeting a $1.77 trillion valuation, set to trade June 12th after already being oversubscribed. It would be the largest IPO in history, more than double Saudi Aramco's $29.4B listing. The hype is real. But so is the skepticism, and the highest-upvoted DD threads are starting to sound less like moon emojis and more like forensic accounting.
The post getting the most traction this week cites Andrei Jikh's YouTube breakdown: NASDAQ quietly changed its fast-entry rule on May 1st, cutting index inclusion wait time from 3 months to just 15 trading days and eliminating float requirements. Translation? The moment SpaceX hits the S&P 500, every passive index fund — including your 401(k) — is forced to buy at whatever price the market sets. Reddit's response was equal parts impressed and furious. Meanwhile, $COIN was the S&P 500's worst performer this week, down 19%, a reminder that when risk-off hits, speculative darlings get absolutely cooked first.
The WSB consensus forming right now: SpaceX is a generational company wrapped in a generational valuation — and the passive fund complex just became the most captive buyer in IPO history.