There's not enough shares being traded to meet the requirements of the index funds. This is exactly why they had the rules of about having enough float and not being added to the indeces right away. the people who waived those rules need to be held accountable when this pops.

Brokers told retail they couldn't participate in future IPOs if they sell, funds have 15 days to get a hold of a certain percent of their holdings worth of shares, but it's more than there are available. So the shares that are available are going have to keep going up until they are worth the total amount that all the funds based on Nasdaq 100 need in their holdings.

This was designed to be a like a massive short squeeze right out of the gate, tons of forced demand chasing very few shares available.