Opinion: The Greatest Fleecing of Retail Investors in Wall Street's Storied History Begins Tomorrow, Aug. 6
We're about to witness a massive wealth transfer from retail investors to SpaceX's insiders.
Overview
Wall Street has witnessed its fair share of history in 2026. The iconic Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S&P 500 (SNPINDEX: ^GSPC), and growth-focused Nasdaq Composite (NASDAQINDEX: ^IXIC) reached all-time highs, and the Federal Reserve got a new chief in Kevin Warsh.
But the most headline-making moment of the year is, arguably, Space Exploration Technologies (SpaceX) (NASDAQ: SPCX) going public on June 12. Elon Musk's artificial intelligence and space economy titan rewrote Wall Street's record books by raising $85.7 billion from its initial public offering (IPO), including the underwriters' overallotment. It also quickly vaulted to a nearly $3 trillion valuation before (completely) retracing its post-IPO gains.
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Originally published at www.fool.com.