SpaceX's initial public offering was large enough to raise concerns about its potential impact on market structure. According to Morningstar, one key concern has largely not materialized. The firm noted that SpaceX's massive market capitalization did not lead to the index overweighting that many investors had feared, despite index providers changing rules to fast-track the stock into major averages. However, Morningstar cautioned that upcoming mega-IPOs could increase concentration risk.
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