Retail investors snap up $453 million in SpaceX IPO day 1
SpaceX's IPO just landed and retail investors jumped in big time, snapping up $453 million in shares on day one.
SpaceX set aside up to 30% of the offering for regular folks, keeping Elon Musk's promise to give retail investors a shot.
The demand was wild, making this one of the most talked-about IPOs of the year.
Retail investors received fewer SpaceX shares
Even with so many people eager to buy, numerous retail investors got fewer shares than they hoped for (sometimes requested 555, got 10, or requested 1,000, got 85).
Many had to grab more stock on the open market, while shares surged by 19% on launch day.
Still, platforms like SoFi saw the offering as the largest and most subscribed offering on our platform to date and made sure every eligible user got at least a piece of SpaceX history.