Key Points S&P Dow Jones Indices declined on June 4 to fast-track megacap IPOs into the S&P 500, leaving its 12-month seasoning period intact. SpaceX's $541 million second-quarter net loss doesn't pass the index's profitability test, which calls for positive GAAP earnings in the latest quarter and in the four most recent quarters combined. About 328 million more locked-up shares become eligible to trade on Sept. 24, part of a schedule that should resolve the index's float test on its own. 10 stocks we like better than Space Exploration Technologies › When SpaceX (NASDAQ:SPCX) entered the Nasdaq-100 on July 7, index funds tracking that benchmark had no choice but to buy the stock -- under a month after the company's initial public offering.
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