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When SpaceX starts trading, some ‘shareholders’ will discover they own nothing at all
Key takeaways
- The stock market in New York will open at 9.30 a.m. local time as usual today and then, a few hours later, shares in Elon Musk’s Space X will begin trading publicly, starting at an offer price of $135 per share.
- At a value of $1.8 trillion, the Space X offering will be the biggest IPO of all time.
- When the insider lockup period ends, they will find out whether they hit the jackpot or were taken in by a scam, reports Fortune’s Allie Garfinkle.
The stock market in New York will open at 9.30 a.m. local time as usual today and then, a few hours later, shares in Elon Musk’s Space X will begin trading publicly, starting at an offer price of $135 per share.
At a value of $1.8 trillion, the Space X offering will be the biggest IPO of all time.
The event will be especially nerve-wracking for one group of investors: the doctors, lawyers, dentists, entrepreneurs, and other high-net-worth individuals who privately bought shares on the shadowy “secondary” market back when SpaceX’s stock consisted only of private equity. When the insider lockup period ends, they will find out whether they hit the jackpot or were taken in by a scam, reports Fortune’s Allie Garfinkle.
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