SpaceX Just Pulled Off the Largest IPO Ever. Here's Why Robinhood Might Be the Real Winner.
SpaceX's record IPO created a rare moment for retail brokerage platforms.
Overview
Space Exploration Technologies (NASDAQ: SPCX) raised $85.7 billion in its initial public offering (IPO), the largest in history. Investors were agog in the run-up as SpaceX priced its IPO at $135 per share, and then began trading on June 12 at $150, closing its first day at $160.95. The stock closed June 25 at $153.
It's been a bit of a roller coaster, but this IPO was the kind of rare corporate event that could turn passive brokerage-app users back into customers who added money to their accounts and maybe started to trade, and there's an interesting story here for Robinhood Markets (NASDAQ: HOOD).
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Originally published at www.fool.com.
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