Mega-IPO candidates including SpaceX are expected to face a long road to entry to the S&P 500 Index, after the company that makes the rules rejected a proposal that included relaxing the requirement that they be profitable.
S&P Dow Jones Indices¡¯ index committee declined to remove a rule that companies generate positive net income for the past year, including the most recent quarter, the firm announced Thursday after a month-long consultation.?
Evercore ISI research analysts don¡¯t expect Elon Musk¡¯s rocket, satellite and artificial intelligence company to generate positive net income on an annual basis until 2027, according to a person familiar with the forecasts, who asked not to be identified as the information isn¡¯t public. That could mean its entry is held up until sometime in 2028 if the rule remains in place.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.