Elon Musk’s SpaceX is opening its blockbuster IPO to retail investors, giving everyday traders access to what could become the largest public offering in history.
SpaceX has applied to list on the Nasdaq under the ticker “SPCX” and is planning to go public this summer.
According to the company’s Wednesday filing, retail investors will be able to buy Class A shares through five online brokerage platforms: Charles Schwab, Fidelity, Robinhood, SoFi, and E-Trade by Morgan Stanley.
Purchases through those platforms would occur at the same IPO price and timing as institutional allocations, the filing said.
Read more about SpaceX’s IPO
The company reported a $4.9 billion net loss on $18.7 billion in revenue last year as it accelerated spending on AI and its space technologies.
SpaceX expects to raise $75 billion to $85 billion through the IPO, which would value it at $1.5 trillion to $2 trillion. That would make SpaceX the largest IPO ever.
The prospect of buying into Musk’s rocket and AI empire has already energized retail investors online.
On Reddit’s WallStreetBets, users debated SpaceX’s ambitions, while also questioning whether the company’s potential valuation had detached from reality.
“$1.75 trillion valuation? Yeah, that math checks out,” one user wrote in a post that quickly gained hundreds of upvotes.
Others focused on governance concerns. Musk plans to remain CEO, chief tech officer, and chairman after the IPO, while maintaining control through a dual-class structure that gives Class B shares 10 votes each, compared with one vote for the publicly traded Class A shares.
“you literally have no power. you are along for the ride. this is not a democracy, this is a dictatorship with a ticker symbol,” another WallStreetBets user wrote.
SpaceX’s filing acknowledged retail investor interest as a risk, echoing disclosures of other companies that have become retail stock darlings. The company wrote that “high retail investor interest in our Class A common stock may occur following this offering, which may lead to increased volatility of the trading price.”
