Retail Investors Could Get SpaceX IPO Shares Through These 5 Brokerages Today
The SpaceX IPO will be unusually accessible to retail investors on Day 1, provided they use the right broker.
Retail Investors Could Get SpaceX IPO Shares Through These 5 Brokerages Today
Overview
Liftoff for the initial public offering (IPO) of Space Exploration Technologies (NASDAQ: SPCX)-- better known as SpaceX -- is nearly here, with the largest IPO in history set for today (Friday, June 12). With Elon Musk's company expected to raise $75 billion at a $1.75 billion valuation, the hoopla is considerable.
Obviously, that dollar amount is eye-catching, but so is another figure: the portion of the offering -- up to 30% -- that SpaceX is reserving for retail investors. That's well above the 5% to 10% typically set aside for non-professional market participants in standard IPOs. Undoubtedly, SpaceX will be highly accessible compared to past IPOs. Still, prospective investors should set aside a few minutes for pre-IPO homework to avoid disappointment.
Clients of these five brokerage firms can access the SpaceX IPO, but the details matter. Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
