Jun. 10 at 2:11 AM
It’s all the more important for SpaceX to get out early because the company wants retail investors to receive roughly 30% of the shares being sold, which would amount to about
$22.5 billion. According to Fidelity, the retail slice of IPOs is usually between 5% and 10%.
In its prospectus, SpaceX names Charles Schwab
, Fidelity, Robinhood
, SoFi
and Morgan Stanley’s
E-Trade as some of the brokerage platforms that will make shares available. The final retail allocation can’t be determined until the book is closed.
In Robinhood’s own IPO in 2021, the trading site indicated it wanted to sell between 20% and 35% of shares to retail investors. The allocation ended up coming in at the lower end of that range, CNBC reported at the time. The stock fell 8% in its debut.
$MS $SCHW $HOOD $SPACZZX.P
