MissConstrueHey y’all, if you are not interested in #SpaceX nonsense stock, you have a couple hours to move your funds from #Russell indices and total market indices.
Effective today, with purchases registered first market open Monday, #FTSE Russell and #MSCI have added SpaceX to their indexes, mandating all passive funds tracking these benchmarks MUST purchase SpaceX shares immediately to match the index weight.
This creates guaranteed demand regardless of the stock's valuation or profitability. Estimates suggest passive funds must buy nearly $3 billion to $9 billion worth of shares today alone, contributing to a total expected inflow of over $20 billion. (!)
To make room for SpaceX’s massive weight (given its ~$2 trillion valuation), index funds must sell shares of profitable companies to buy into this tulip craze madness.
Formula1.it 
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