Nasdaq 'Cheated and Changed the Laws' to Fit SpaceX in, Famed Investor Jeremy Grantham Says

The article centers on Jeremy Grantham’s criticism of SpaceX’s rapid inclusion in the Nasdaq-100 after its IPO, arguing Nasdaq effectively changed its rules to force the stock into the index despite SpaceX’s lack of profitability. The move matters for markets because index-tracking funds such as QQQ must buy SpaceX shares, creating forced demand and potentially supporting the stock price even if some investors question its valuation. Nasdaq reportedly shortened the normal seasoning period from three months to 15 days and adjusted its low-float weighting rules, while the S&P 500 kept its profitability and timing requirements intact. The piece highlights a broader debate over index governance, rule integrity, and how benchmark changes can redirect billions in ETF and mutual fund flows into a newly public mega-cap stock.