Hacker News Reader

Depends, they've gone to pains to ensure the indexes will buy as share lockups end. It's dodgy no matter how you look at.

The one saving grace is s&p isnt changing anything, and they were by far the biggest index.

View on HN

The whole IPO was designed to be like a short squeeze where index funds have to buy soon but there's not enough shares. For the little float that's available they are weighting it significantly more than they should by previous rules. They need to have tens of billions worth of what was 70 billion by next week, and retail investors who got in on the IPO were told by their brokers if they sell early on they will not get to participate in future IPOs.

There were not enough shares actually trading for the index funds to fulfill their requirements that's why the price keeps going up

Reply on news.ycombinator.com