After about 15 minutes of trading, 155 million SpaceX shares had already traded. The total size of the IPO was roughly 555 million shares (plus the underwriters have the option of buying another 83 million). I don’t think that the pre-IPO investors have the ability to sell their shares yet, a lockup period being conventional. Are people truly flipping their shares for a 20% profit within 15 minutes? (10% profit after paying short-term capital gains tax to Graham Platner.)
The total shares sold:
Speaking of Graham Platner…
Update: After one hour of trading, 272 million shares had been bought/sold on the exchange. Price is up to $168 without dramatic swings, suggesting some stabilization action by the underwriters?
The Trillionaires and the Quadrillionaires need to pay their fair share!
The SpaceX IPO was another of those events which made it hard to go back to work, knowing our day jobs will never even allow us to buy houses. Such a gap between haves & have nots didn’t exist 40 years ago. Now that they’re merging with Tesla, the stonk market is rapidly becoming 1 stonk. It’s getting a lot harder to pick investments without starting a business from scratch.
Such gap existed 30 years ago. Buying decent, not spectacular, house or an apartment with basic conveniences in remote urban neighborhoods that had shootings no more frequent then once in few months or in the suburbs required two incomes back than.
Technically anyone can flip their IPO shares in the first day, but retail plebs like myself face future IPO ban for flipping in the first 15 days, unlike big boys, which can flip immediately without penalty.