Business
SpaceX’s Army of Individual Investors Showed Up
Individual investors showed up for Elon Musk in the SpaceX IPO. Individuals put in orders for around $100 billion in the offering, according to people familiar with the matter.
While they received a fraction of that, the strong demand highlighted the sway individual investors now hold in U.S. public markets.
The majority of shares in the IPO still went to institutional investors, but around 20% were directed to individuals, or around $15 billion worth. While many banks focused on selling IPO shares to their institutional investor clients, Bank of America led underwriter efforts to sell shares to individuals in the U.S.
You must be logged in to post a comment Login