By Manya Saini and Suzanne McGee June 7 SpaceX’s long-awaited initial public offering, expected to fetch a $1.75 trillion valuation, has set off a frenzy among retail investors clamoring for a share of Elon Musk’s rocket, satellite and AI empire.
It has become one of the biggest FOMO trades of the year, despite SpaceX’s lack of profits, drawing so much investor demand ahead of the IPO that bankers have already received twice as many orders as available shares
SpaceX has reportedly earmarked as much as 30% or $22.5 billion in shares for retail investors, a rare move for a blockbuster IPO that is typically dominated by institutional buyers. Here’s what investors need to know about buying shares in the IPO, who may get access and the risks of purchasing the stock once it begins trading. HOW CAN YOU BUY SHARES?
Trading under the symbol SPCX, SpaceX has picked a handful of brokerage firms to distribute shares in the IPO to retail customers in the U.S. Investors typically need to have an eligible brokerage account, meet minimum funding requirements and submit an indication of interest before the IPO is priced. Requirements vary by brokerage and there is no guarantee your order will be filled.