Fidelity Lowers SpaceX IPO Minimum to $2,000 as SpaceX Allocates Up to 30% for Retail Investors
Fidelity said it will open the SpaceX share sale to any retail brokerage customer holding at least $2,000, down from a prior threshold of up to $500,000.
Fidelity announced that it is making the SpaceX IPO available to any customer with a retail brokerage account containing $2,000 or more. The brokerage previously required up to $500,000 for SpaceX IPO eligibility. Fidelity attributed the change to a decision by SpaceX to reserve a much higher percentage of the offering for retail investors, up to 30 percent.
"SpaceX has decided to reserve a much higher percentage of the offering (up to 30%), which means there should be more shares available to retail clients, which is why we have decided to reduce IPO eligibility for this offering," the company said. Fidelity decided to reduce IPO eligibility for this offering because SpaceX is reserving up to 30% for retail.
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