Elon Musk’s rocket company, formally known as Space Exploration Technologies Corp., is steering some of its initial public offering of stock directly to what are called “retail” investors. These are people who buy stocks in a brokerage account on their phone, not pension funds or other big “institutional” investors routing orders to their professional trading desks.

Here are some things to keep in mind as the IPO approaches:

A chunk of SpaceX stock will go to regular investors

Most IPOs offer only 5% to 10% of the total offering to retail investors, according to Fidelity. In this case, though, it could be up to 30%. SpaceX expects retail investors to participate in its IPO through Charles Schwab, Fidelity, Robinhood, SoFi and E-Trade by Morgan Stanley.

Live Events

At Fidelity, investors with as little as $2,000 in their accounts could potentially snag SpaceX shares in the IPO. That’s down from account minimums of $100,000 or even $500,000 that Fidelity has for other equity offerings.
Demand from investors may be so high in this IPO that not everyone indicating interest will actually get a share.Trying for a short-term flip has risks

Given all the hype around SpaceX, temptation could be high to grab shares in the IPO and sell them quickly if a frenzy sends its price spiking. But brokerages have policies to block investors from future offerings if they dump shares bought in an IPO quickly, like within a couple weeks.

Big swings in price may be possible

Potentially high interest from retail investors following the IPO is one reason SpaceX is warning that its stock price could be volatile. These investors aren’t known for moving as meticulously as a pension fund, which is trying to build money for payments it must make years or decades in the future.

It’s retail investors, after all, who helped drive GameStop and other “meme stocks” to market-bending heights in 2021 that professional investors called irrational.

IPOs can see a big first-day bounce, but that may not last

The typical IPO has seen a 7% jump in its first day of trading, from 1980 through 2025, according to Jay Ritter, an IPO expert and a professor at the University of Florida‘s Warrington College of Business.

But IPOs tend to lag similar-sized peers in the ensuing five years, not including their first day of trading. They do so by an average of 3.6% per year, according to Ritter.

SpaceX has debt and has been losing money

It’s very expensive to launch things out of the earth’s atmosphere and to construct huge AI data centers, and SpaceX has built up $29.1 billion in debt, as of the end of March.

The company also lost $4.9 billion last year and another $4.3 billion through the first three months of 2026. It acknowledges that it “may not achieve profitability in the future.”

Over the long term, a stock’s price tends to track with how much profit the company is making.

You don’t have to buy SpaceX to own it

You could end up owning some of SpaceX even if you never intended to. Consider the many people who own shares of the popular QQQ exchange-traded fund, which tracks the Nasdaq 100 index and has roughly $460 billion in total assets.

Historically, the Nasdaq 100 index would wait until each December to add new members in an annual reconstitution to make sure it includes the 100 largest non-financial companies on the Nasdaq. But Nasdaq recently made changes to allow some big companies to enter the Nasdaq 100 index after just 15 trading days.

That means if SpaceX’s IPO is as successful as expected, it could quickly join both the Nasdaq 100 and QQQ fund, all while QQQ holders do nothing on their own.

The company behind the more popular S&P 500 index, though, is not making changes that would allow SpaceX faster entry.

Any shares bought would take a back seat to Musk’s in influence

In its IPO, SpaceX is offering 555.6 million shares of its “Class A” stock. Each of these shares gives an investor one vote on matters that shareholders decide. That includes such weighty things as who is on the board of directors overseeing the CEO.

This IPO is not offering what are called “Class B” shares, each of which give its holder 10 votes. Musk, meanwhile, owns so many of those shares that he by himself could control more than 82% of all the stock’s voting power following the IPO.

In filings with U.S. securities regulators, SpaceX acknowledges the potential for conflicts of interest between it and Musk, along with other companies he owns, such as Tesla.

Some big investors really disagree with the ownership structure

Officials from pension funds for firefighters, teachers and other workers in California and New York sent a letter to SpaceX last month decrying some of the provisions in its IPO, including “super voting shares,” mandatory arbitration of shareholder claims instead of the possibility of lawsuits and how much power Musk will hold over the company.

They said they could become owners of SpaceX stock because they hold index funds, which automatically buy stocks after they get included in certain indexes.

If Musk is able to control so much of the voting power on the board of directors, it would make him tremendously powerful atop SpaceX, “essentially making him unfireable without his own consent,” the CEO of California Public Employees’ Retirement System, the New York state comptroller and the New York City comptroller wrote in their letter.

“This level of insulation from accountability is virtually unheard of among any other large U.S. issuer whose governing documents foreclose accountability to public owners on these terms.”

Don’t confuse SpaceX with other companies with similar names

SpaceX plans to trade under the ticker symbol “SPCX.” That’s very close to “SPCE,” which is the symbol for Richard Branson’s Virgin Galactic Holdings.

TUCSON, Ariz. — The disappearance of Nancy Guthrie, the 84-year-old mother of NBC “Today” show co-anchor Savannah Guthrie, has entered a somber new phase as authorities have reclassified the case as a “no-body” murder investigation more than four months after she vanished from her home on Feb. 1, 2026.

Pima County Sheriff’s Department officials and federal partners have shifted focus from a missing person or potential kidnapping recovery to building a homicide case based on forensic evidence and circumstantial indicators suggesting a violent crime occurred at the residence. No remains have been recovered despite extensive searches of the surrounding desert area, prompting prosecutors to prepare for potential charges without a body.

The development marks a significant turn in one of the highest-profile missing persons cases in recent Arizona history. Investigators continue to describe the probe as active, with every available resource dedicated to determining exactly what happened during the early morning hours when Guthrie was last seen.

Timeline and Evidence Shift

Guthrie vanished from her Tucson-area home under suspicious circumstances. Security footage captured a masked individual at the property around the time of her disappearance. Blood evidence was reportedly found near the scene, and she left behind essential heart medication, raising immediate concerns for her well-being.

For the first several months, authorities treated the case primarily as an abduction. Thousands of tips flooded in, and large-scale searches involving deputies, volunteers and specialized teams combed the region. Despite these efforts, no definitive trace of Guthrie has emerged, leading investigators to conclude that the likelihood of a safe recovery has diminished substantially.

Legal experts note that “no-body” murder prosecutions, while challenging, have succeeded in numerous jurisdictions when strong circumstantial and forensic evidence establishes both the fact of death and the identity of the perpetrator. In this instance, prosecutors appear confident that accumulated evidence meets the threshold for pursuing homicide charges.

Family Impact and Public Statements

Savannah Guthrie has continued her professional responsibilities while navigating profound personal loss. Colleagues have described her arriving at the studio in visible emotional distress, with reports indicating she often breaks down during her morning commute as the agonizing wait persists.

The family has maintained a public appeal for information while offering a $1 million reward for details leading to Nancy Guthrie’s recovery. Their statements have reflected a measured balance of hope and realism as the investigation evolves.

Ongoing Law Enforcement Efforts

The Pima County Sheriff’s Department, in coordination with the FBI, continues processing technical evidence and pursuing leads. Recent enforcement actions in the neighborhood, including arrests of individuals disrupting the area with unauthorized filming and camping, aimed to restore order and protect the integrity of the investigation.

A memorial near the home was removed, reportedly by the homeowners association. Officials have stressed that the case has not gone cold, with tens of thousands of tips still under review. Anyone with information is urged to contact the FBI at 1-800-CALL-FBI or the Pima County Sheriff’s Department.

Legal and Investigative Challenges

Building a no-body murder case requires meticulous documentation of evidence showing that a crime occurred and that the victim is deceased. Forensic analysis, digital records, witness statements and behavioral patterns all contribute to the evidentiary foundation. Prosecutors must convince a jury beyond reasonable doubt without the benefit of direct physical remains.

Legal analysts following the case indicate that the reclassification signals sufficient progress in these areas to justify the shift. However, the absence of a body inherently raises the burden of proof, making successful prosecution dependent on comprehensive circumstantial narratives.

Community and Media Attention

The case has drawn sustained national interest due to Savannah Guthrie’s prominent role in morning television. Public fascination has led to an influx of amateur sleuths and true crime content creators to the neighborhood, prompting law enforcement to issue repeated warnings against interference and trespassing.

Recent arrests of YouTubers for public nuisance and trespassing underscored authorities’ determination to maintain focus on professional investigation rather than spectacle. Officials established designated media areas early on to balance transparency with operational needs.

Broader Context of Missing Persons Cases

Nancy Guthrie’s disappearance highlights challenges in long-term missing persons investigations, particularly those involving vulnerable adults. Statistics from the National Missing and Unidentified Persons System indicate thousands of similar cases nationwide, with resolution rates varying based on initial evidence quality and community cooperation.

In Arizona’s desert environment, factors such as extreme temperatures and vast terrain complicate searches. The transition to a homicide framework often occurs when all reasonable explanations for a voluntary disappearance have been exhausted.

Family’s Ongoing Ordeal

For the Guthrie family, the reclassification brings a painful acknowledgment of likely outcomes while maintaining determination to seek justice. Savannah Guthrie’s public platform has helped keep attention on the case, potentially generating new leads even as the focus shifts toward prosecution.

The emotional toll on families in such situations is well-documented by victim advocates, who note prolonged uncertainty can be particularly devastating. Support networks and counseling resources remain crucial during these transitions.

Investigation Status and Next Steps

Authorities emphasize that the case remains highly active despite the classification change. Digital forensics, financial records, neighborhood canvassing and potential suspect analysis continue unabated. The $1 million family reward stands as a significant incentive for information.

Prosecutors are expected to move deliberately, ensuring all evidentiary elements align before any formal charges. The timeline for potential court proceedings remains unclear, as building a robust no-body case often requires additional months of preparation.

Public Cooperation Still Sought

Law enforcement continues to appeal to the public for any information, no matter how seemingly minor. Tips can be submitted anonymously through multiple channels. Officials stress that even small details could prove pivotal in connecting disparate pieces of evidence.

The neighborhood around the Guthrie residence has seen increased security measures to deter interference while the investigation proceeds. Residents have expressed hope for resolution and a return to normalcy after months of intense scrutiny.

As the case enters this new phase, the focus remains on uncovering the truth about what happened to Nancy Guthrie. The reclassification to a no-body murder investigation represents a somber acknowledgment of the evidence gathered thus far, even as authorities maintain commitment to a thorough and professional inquiry.

For the family and the broader community, the coming months will test resilience as the search for answers continues through legal and investigative channels. The Nancy Guthrie case serves as a reminder of the complexities surrounding missing persons investigations and the enduring hope for closure in the face of profound uncertainty.

‌The Securities ⁠and ⁠Exchange Broad of India proposed that AMCs may disclose consolidated remuneration of executive level employees and the total number of such employees.

SEBI said the proposed approach would give investors in ⁠the funds ‌of AMCs a broader view of senior management compensation.

The ⁠regulator said the proportion of employees covered under the current framework is limited, ranging from about 2% to 10% of total employee base in 36 of 51 AMCs analysed.

It said public disclosure of ‌individual remuneration could expose employees to privacy risks and misuse of personal information.

Live Events

The ⁠regulator also proposed allowing investors to seek scheme-level disclosure of the total remuneration paid to fund managers of schemes they are invested in.
SEBI has sought comments from the public by June 30.

NEW YORK — The 2026 NBA Finals shift back to Madison Square Garden on Wednesday night for Game 4, with the New York Knicks holding a 2-1 series lead over the San Antonio Spurs after a thrilling 115-111 Spurs victory in Game 3. Victor Wembanyama’s dominant performance has San Antonio believing it can even the series on the road, while the Knicks aim to reclaim momentum and move within one win of their first championship since 1973.

Tipoff is scheduled for 8:30 p.m. ET. The Knicks enter as 2.5-point favorites, with the over/under set at 216.5 points. After dropping the first two games in San Antonio, the Spurs stole Game 3 in New York behind Wembanyama’s explosive 32-point, eight-rebound, six-assist, three-block, two-steal masterpiece and strong contributions from rookie Stephon Castle.

Wembanyama’s Emergence as the Focal Point

The 7-foot-4 phenom has elevated his play as the series progresses. In Game 3, Wembanyama delivered a full 48-minute effort that turned the tide in the fourth quarter. His ability to dominate both ends of the floor has become the Spurs’ clearest path to victory. Analysts highlight his improved low-post scoring and defensive versatility as keys to sustaining pressure against New York’s physical frontcourt.

For San Antonio to force a Game 5 back home, Wembanyama must continue anchoring the offense while disrupting the Knicks’ rhythm. His presence forces constant adjustments from New York coach Tom Thibodeau, who must decide between double-teaming the big man or living with his scoring outbursts.

Knicks’ Response and Home Advantage

The Knicks, led by Jalen Brunson, have shown resilience throughout the playoffs. Brunson delivered 32 points in Game 3 but could not overcome the Spurs’ late surge. At Madison Square Garden, the Knicks will lean on their raucous home crowd and defensive identity to reassert control.

New York’s strength lies in its balanced attack and ability to grind out possessions. Players like Karl-Anthony Towns and Mikal Bridges provide secondary scoring and defensive versatility that can counter San Antonio’s length. The Knicks’ 13-game playoff winning streak ended in Game 3, adding urgency to avoid falling into a 2-2 tie.

Tactical Keys and Adjustments

Coaches on both sides face critical decisions. For the Spurs, maintaining defensive intensity while feeding Wembanyama in advantageous spots will be paramount. San Antonio’s bench, including Castle’s fourth-quarter impact, must provide consistent energy on the road.

The Knicks will likely emphasize containing Wembanyama through help defense and forcing the ball out of his hands. Brunson’s pick-and-roll mastery and New York’s transition game could exploit any lapses in Spurs’ rotations. Rebounding and three-point efficiency are expected to be decisive factors in a series defined by half-court execution.

Series Context and Stakes

The Finals matchup pits two franchises with storied histories but very different recent paths. The Knicks have built a contender through smart drafting and free agency, while the Spurs have ridden Wembanyama’s meteoric rise following years of rebuilding. A Spurs victory in Game 4 would send the series back to San Antonio with renewed belief, while a Knicks win would put them firmly in the driver’s seat.

Injuries and fatigue could play roles as the series reaches its midpoint. Both teams have managed minutes carefully, but the physical toll of playoff basketball intensifies with each game. Wembanyama’s durability after a strong Game 3 performance will be closely monitored.

Broader Implications

A prolonged series benefits the NBA’s global audience, with stars like Wembanyama and Brunson showcasing the league’s future. Wembanyama’s ability to “bring victory once again” could cement his status as a generational talent capable of leading a championship charge in only his third season.

For the Knicks, closing out games at home remains a point of emphasis after letting Game 3 slip away. Thibodeau’s defensive schemes have been a hallmark of their success, and adjustments to counter San Antonio’s length will define the remainder of the series.

What to Watch in Game 4

Expect high-intensity basketball from the opening tip. Early foul trouble on either star could shift momentum quickly. Three-point shooting, particularly from the Spurs’ supporting cast, may determine if they can stretch the floor effectively against New York’s pack-line defense.

Fan atmosphere at Madison Square Garden is expected to be electric, providing the Knicks with a tangible home-court edge. The Spurs must withstand the pressure and execute their game plan to force the series back to Texas.

Analysts project a competitive contest, with models favoring the under on total points due to strong defensive showings in prior games. Individual performances from Wembanyama and Brunson will likely dictate the outcome, as both have shouldered heavy scoring loads.

Historical Parallels and Outlook

The series echoes past Finals battles where young superstars faced veteran-led squads. Wembanyama’s poise under pressure has drawn comparisons to legendary big men, while the Knicks embody a gritty, team-first approach reminiscent of championship clubs from previous eras.

Regardless of Game 4’s result, the matchup has delivered compelling basketball and highlighted the league’s parity at the highest level. As the series continues, focus will remain on execution in critical moments and the ability of star players to elevate their teams.

The Knicks hold the series advantage and home-court momentum, but Wembanyama’s Game 3 heroics have proven the Spurs are far from finished. Wednesday night’s contest promises another chapter in what has become a hard-fought, entertaining NBA Finals.

Both sides possess the talent and coaching to compete at an elite level. The outcome of Game 4 could shift the narrative dramatically, setting the stage for a memorable conclusion to the 2026 postseason. Fans and analysts alike will be watching to see if Wembanyama can once again deliver a victory that keeps San Antonio’s championship hopes alive.