I believe everyone here in this sub is familiar with the SpaceX (and later OpenAI and Anthropic) strategy to IPO and, through index inclusion rule changes, force retail investors to become the bagholders of unprofitable companies.
The question is, can we, as ETF investors, sue those responsible in a court of law? There is a clear expected damage and, quite frankly, daylight robbery going on here. I don't believe it would be too hard to argue that including a loss-making company at the highest valuation ever and FORCING retail to buy is very shady to say the least.
Who would be the appropriate party to sit on the opposite end of the lawsuit? The ETF manager? The SEC? Nasdaq? SpaceX itself? The investment banks? Would it be some kind of class action lawsuit?
Part of me would love to see SpaceX and the investment banks as defendants because they would be forced to open up their valuation and sales strategy during discovery, but then again, I don't know how doable would that be.
Any thoughts? Ideas?