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.
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.