SoFi Just Helped Everyday Investors Buy Into the Largest IPO Ever. Here's Why It Matters More Than One Hot Deal.
SoFi stock is down, but it's unlikely to stay that way for long.
SoFi Just Helped Everyday Investors Buy Into the Largest IPO Ever. Here's Why It Matters More Than One Hot Deal.
Overview
The Space Exploration Technologies initial public offering (IPO) made history last week, raising as much as $85 billion and achieving a $1.8 trillion valuation at the open. That valuation has already increased to $2.5 trillion, and SoFi Technologies (NASDAQ: SOFI) played an important role in getting shares to everyday retail investors.
Retail investors helped the SpaceX stock surge on its first day of trading. According to the Wall Street Journal, they bought $18 million worth of the stock within the first 20 minutes of trading, and by day's end, had bought $118 million.
Details
SoFi's involvement in the SpaceX IPO is more than a one-time stunt or gambit. There are far-reaching consequences that could impact the company positively for years. Here's why.
Source
Originally published at www.fool.com.
