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A Danish pension fund has blacklisted SpaceX, calling it grossly overvalued with catastrophic governance (thenextweb.com)
submitted 5 months ago by to c/technology@lemmy.world
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cross-posted from: https://piefed.world/c/tech/p/1160169/a-danish-pension-fund-has-blacklisted-spacex-calling-it-grossly-overvalued-with-catastro

AkademikerPension will not buy SpaceX shares at any price near the $1.8 trillion IPO target, saying the company cannot reasonably be worth more than $1 trillion and that Musk’s voting control makes it effectively uninvestable

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[–] 30 points 5 months ago* (last edited 5 months ago) (6 children)

Americans with 401k are about to get screwed when this IPOs. They’re wanting to change the index rules. That means every index will have to include this rotten piece of shit. Most 401ks would be affected.
The rule changes include changing how long after an IPO a stock can be included in an index fund Right now it’s a year. They want it to be weeks.

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  • [–] 11 points 5 months ago (2 children)

    This makes me feel better about exchanging all US index funds in my 401k into International index funds. I may regret this because markets can be irrational for a long time, but it certainly feels like the US is circling the drain. The fallout will impact International of course, but what else is there to invest in?

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  • [–] 1 point 5 months ago (2 children)

    Teachers PF won't touch this IPO with a 12m pole.

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