Michael Burry, the investor made famous by the 2008 financial crisis trade, used X on Friday to blast Nasdaq’s proposed rule changes ahead of SpaceX‘s anticipated initial public offering (IPO).
“This is the most SHAMELESS structural manipulation of a major index I’ve ever seen,” Burry wrote.
His target: two specific rule proposals Nasdaq quietly floated in February that critics say were designed around a single company.
SpaceX, the Tesla Inc (NASDAQ:TSLA) CEO Elon Musk-led commercial spaceflight company, is reportedly targeting a $1.75 trillion valuation for what could be the largest IPO in history.
Reuters reported the company is leaning toward a Nasdaq listing, potentially as early as June. Musk appeared to confirm the $1.75 trillion figure on X on March 2.
The ‘Fast Entry’ Rule: 15 Days, No Waiting
Currently, new public companies typically wait up to 12 months before qualifying for major index inclusion. That seasoning period allows real price discovery and protects passive investors from …
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