SpaceX IPO: The Great Fleecing of Retail Investors Just Took Another Dark Turn
Just what retail investors needed... a leveraged SpaceX ETF debuting the same day as Wall Street's largest-ever IPO.
SpaceX IPO: The Great Fleecing of Retail Investors Just Took Another Dark Turn
Overview
Today is the big day! In mere hours, Elon Musk's space and artificial intelligence (AI) goliath SpaceX (NASDAQ: SPCX) will go public, raising $75 billion and shattering Saudi Aramco's previous record of $29.4 billion as the largest ever initial public offering (IPO) capital raise.
Combining two trillion-dollar addressable markets (space and AI) with Elon Musk's track record (he turned Tesla into a $1.5 trillion business) clearly has retail investors excited -- but I'm not among them.
Details
The structural dynamics of this deal are engineered to allow SpaceX insiders to cash out at the expense of everyday investors. But while I thought we'd seen the worst of what's to come with the SpaceX IPO, Wall Street has managed to one-up itself.
Source
Originally published at www.fool.com.
