SpaceX prepares $75B Nasdaq IPO at $135 with 4%-5% float
Business
SpaceX, led by Elon Musk, is about to launch one of the biggest IPOs ever on Nasdaq, aiming to raise $75 billion with shares priced at $135 each.
But only 4% to 5% of shares will actually be available for public trading, a much smaller slice than most companies offer.
SpaceX's small float could spark volatility
With so few shares up for grabs (compared to the typical 80% on Nasdaq), SpaceX stock could see some wild price swings.
Most shares will stay with insiders and early investors.
To keep things interesting for everyday investors, SpaceX is setting aside more shares for them, and changes in Nasdaq rules might get it into the Nasdaq-100 fast, meaning more attention and possibly more volatility.