SpaceX favors listing on NASDAQ, provided it is quickly included in the NASDAQ 100 Index

Odaily Planet Daily reports that four individuals familiar with the company’s plans say that Elon Musk’s SpaceX is leaning toward going public on the Nasdaq. SpaceX hopes to be included in the Nasdaq 100 index as soon as possible, which is seen as a necessary condition for its listing on the exchange. Previously, it was reported that SpaceX was planning an IPO, potentially as early as June. Sources say that the New York Stock Exchange is also vying for this listing, and neither exchange has been informed of a final decision yet. Last month, Nasdaq proposed a new rule that could accelerate the inclusion of newly listed large companies into the Nasdaq 100 index. Under the “Fast Track” rule, if a newly listed company’s market cap ranks within the top 40 of the current index components, it can qualify for accelerated inclusion in less than a month after listing. The proposed change has not been finalized and may take several months to implement. Sources indicate that SpaceX is seeking an estimated valuation of about $1.75 trillion for this IPO, which, based on the latest stock price, would make it the sixth-largest company in the United States. (Reuters)