Comment by ano-ther
12 hours ago
Also worth noting that other index providers are less principled.
> Nasdaq changed its rules recently so SpaceX can join the Nasdaq 100 Index, a cohort of the largest non-financial companies listed on its exchange, in just 15 trading days, down from a three-month minimum. FTSE Russell adopted a similar approach, shortening the waiting time to five trading days
if i had to short 1 of the 3, it would be OpenAI
The company with the best model by far?
Well, joint best.
At the target market caps people are talking about, I wouldn't blame anyone who shorts all three: even if you're optimistic about the value of the tech, monetising is hard, and competition reduces profits.
If I had to short 3 things, it would first be the NASDAQ 100, followed by anything Elon, then the greenback
There are so many indexes these days and they all have different angles. I don’t see this as being less principled and more it’s the nasdaq 100.
More like its a competition to get the listing -- not dissimilar to Amazon shopping cities for its corporate base. Set up a competition and get the best deal would be my speculation on why it was done (as well as goose the demand).
Yes, it's the same principle that gets you financial advisors who push you into high-fee fund choices that earn them kickbacks. Completely understandable from the PoV of these parties' self-interest, yet entirely contrary to your own self-interest as a customer and investor.
You seem to be confusing "listing" - the stock exchange where a company chooses its stock to trade (i.e. NYSE, AmEx, Nasdaq) with "indexes" - a list of stocks that is often the basis for index funds.
The Nasdaq 100 is not the same as Nasdaq. A company can be in many indexes but only one listing. There may have been competition for the listing but there is not competition between indexes for inclusion.
The implication is that Nasdaq (company) changed the rules for the Nasdaq 100 (index) in order to get the listing on Nasdaq (stock exchange).
Many companies are listed in multiple exchanges. Unilever, Shell, AstraZeneca, BP, and many more.
There was never a competition. It was explicitly designed to get a better "deal" where they wanted to open it.