Schwab Allocates SpaceX’s $86.2B IPO Shares to All Requesting Clients
SCHW•Charles Schwab allocated at least one share of SpaceX’s $86.2 billion IPO to every eligible retail customer who requested stock, joining Robinhood, Fidelity and SoFi in broad participation. SpaceX reserved about 20% of its IPO for global retail investors and shares closed up 43% from the $135 issue price, valuing it at $2.5 trillion.
1. IPO Allocation by Schwab
Charles Schwab granted at least one share of SpaceX’s $86.2 billion IPO to every eligible client who placed a request via its retail brokerage platform, ensuring broad participation among its user base.
2. Retail Investor Demand
SpaceX reserved about 20% of its initial offering for global retail investors, generating over $100 billion in demand and closing up 43% from the $135 IPO price, giving the company a $2.5 trillion market value.
3. Impact on Schwab
This allocation highlights Schwab’s commitment to retail access, potentially bolstering trading volume and attracting new accounts as investors seek similar IPO opportunities.
