In SpaceX’s case, appetite was exceptionally high. The underwriters, which included Goldman Sachs, Bank of America, and JPMorgan, exercised the option in full, purchasing an additional 83.3 million shares directly from the company to meet the huge demand.

This article was written by

Follow

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

The new rules will come into effect from September 1, 2026, according to a circular issued by the regulator on Monday.

At present, ETFs are subject to a fixed 20% price band based on the net asset value (NAV) from two trading days earlier. SEBI said the existing framework creates challenges because of the one-day lag in price discovery and because the fixed bands do not adequately reflect movements in the underlying assets.

Under the revised framework, equity ETFs and debt ETFs, excluding overnight and liquid ETFs, will have an initial dynamic price band of 10%, which can be expanded up to 20% after a cooling-off period. The price band will be widened by 5% increments if prices hit the upper threshold during trading.

Commodity ETFs tracking gold and silver will have an initial price band of 6%, which can be expanded in stages of 3% depending on market conditions and international commodity price movements.

Live Events

Sebi has also changed the methodology for determining ETF base prices. Instead of using the T-2 NAV, exchanges will use the previous day’s closing price, calculated as the volume-weighted average price during the last 30 minutes of trading. If there is no trade during that period, the last traded price will be used. In the absence of any trading, the latest available NAV will serve as the base price.
The regulator said stock exchanges and mutual funds should work towards using the previous day’s closing NAV as the base price from April 1, 2027.In another key change, Sebi has mandated a pre-open call auction session for gold and silver ETFs to improve price discovery, given that the underlying commodities trade continuously across international markets while domestic ETFs trade only during Indian market hours.

The regulator said the changes were based on recommendations from stock exchanges, the Secondary Market Advisory Committee and feedback received during public consultation.

Add as a Reliable and Trusted News Source

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

There are lots of reasons people bought SpaceX’s SPCX 19.22%increase; up pointing triangle $1.8 trillion IPO, including faith in Elon Musk, hopes for the first-day pop and, perhaps, a belief that it will one day profit from colonizing Mars. One idea that’s popular even with those who think the stock is wildly overvalued is that early entry into the Nasdaq-100 and several other large indexes is virtually a guarantee of free money.

The trade works like this: When SpaceX joins an index, funds tracking the index have to buy no matter the price. So if you buy in advance, you can then sell to the index fund at a higher price when it joins, which will be on Friday for some of the indexes. The demand part of the logic is impeccable, and index arbitragers have long done exactly this, albeit with risks that make it far from guaranteed money.

The states with the best affordability for homebuyers and that are facilitating the most construction of new homes are centered in the Midwest and South, according to a new report.

Realtor.com released the 2026 edition of its housing report cards for all 50 states plus the District of Columbia, which showed that states across the Midwest and South outperformed their peers from the Northeast and West.

While no states earned an A+ grade, which suggests that all have room for improvement, 12 of the 13 states with the highest grades were all located in the Midwest and South, receiving grades in the B- to A range. Half of the grade is based on an affordability measure, while the other half is based on homebuilding activity.

“This year’s refresh reveals a familiar regional divide, but also some notable shifts beneath the surface, with a new state at the top of the class and a handful of states whose grades moved dramatically in either direction,” said Realtor.com senior economist Joel Berner.

MORTGAGE RATES TICK HIGHER, BUT BUYERS SHOW SIGNS OF CONFIDENCE

Realtor.com’s state report for housing affordability gave Indiana, Iowa and North Carolina A grades, while Texas received an A-. (Mark Felix/Bloomberg via Getty Images)

Indiana topped the list with a total score of 76.3 on the 100-point scale, earning an A based on strong affordability and homebuilding activity that helped it rise three spots from last year’s rankings. 

The median-priced home in the Hoosier State was $295,810 and required about 28% of the median household income of $71,469, which fell below the 30% benchmark for affordability.

Other states to receive A grades include Iowa, which has a median listing price of $282,886 and a median household income of $75,991, as well as last year’s leader South Carolina, with a median listing price of $363,896 and a median income of $67,758.

WHY GEN Z IS SAYING ‘NO’ MORE OFTEN – AND SAVING MORE MONEY

Texas ranked fourth with an A- grade, given the Lone Star State’s median listing price of $364,749 and median income of $76,585. North Carolina and Nebraska were the only two states to receive B+ grades.

The biggest risers in the report compared with last year were Delaware and Utah, which each jumped 12 spots. Delaware rose from 19th to 7th, while Utah saw its ranking rise from 29th to 17th.

Realtor.com’s report is based on new construction activity as well as affordability metrics for buyers. (Joshua Lott/Bloomberg via Getty Images)

Six states received F grades on their report cards, with New York ranking last due to a $668,173 median listing price and median income of $82,657. The other five states that received F grades were all located in the Northeast or West, with Massachusetts, Rhode Island, Hawaii, California and Connecticut rounding out the bottom of the list in order of the worst grade to the best.

5 CITIES THAT NAIL THE RETIREMENT SWEET SPOT

Most of the states near the bottom of the rankings saw their rankings hold steady or change little from a year ago, as they continue to face high prices, limited land for building with restrictive zoning policies, and building costs outpacing what middle-income buyers can afford.

The biggest drops were three states which all fell eight spots in the rankings – Alabama fell from 13th to 21st, Maryland dropped from 23rd to 31st, and New Jersey slipped from 35th to 43rd.

New York slipped into last place in the 2026 rankings. (Lindsey Nicholson/UCG/Universal Images Group via Getty Images)

Here’s the list of the Realtor.com report’s grades for each of the 50 states as well as the District of Columbia:

• Alabama: C
• Alaska: C-
• Arizona: C
• Arkansas: B
• California: F
• Colorado: C+
• Connecticut: F
• Delaware: B
• District of Columbia: D+
• Florida: B
• Georgia: B
• Hawaii: F
• Idaho: C
• Illinois: C
• Indiana: A
• Iowa: A
• Kansas: B
• Kentucky: C
• Louisiana: C
• Maine: C-
• Maryland: C
• Massachusetts: F
• Michigan: C
• Minnesota: C+
• Mississippi: C-
• Missouri: C
• Montana: D
• Nebraska: B+
• Nevada: C-
• New Hampshire: D+
• New Jersey: D
• New Mexico: C-
• New York: F
• North Carolina: B+
• North Dakota: C
• Ohio: C+
• Oklahoma: B
• Oregon: D-
• Pennsylvania: C
• Rhode Island: F
• South Carolina: A
• South Dakota: B
• Tennessee: C
• Texas: A-
• Utah: C+
• Vermont: D+
• Virginia: C+
• Washington: C-
• West Virginia: C
• Wisconsin: C
• Wyoming: C-

GET FOX BUSINESS ON THE GO BY CLICKING HERE