SpaceX IPO Leaves Billions on the Table Amid High Valuation Concerns

Jay Ritter, director of The IPO Initiative and Emeritus Professor at the University of Florida, discussed the unprecedented $75 billion Space X IPO, highlighting its fixed $135 offer price set before the roadshow—a highly unusual approach. This pricing strategy resulted in a first-day stock price jump that left approximately $20 billion in first-day profits on the table, more than double the previous U.S. IPO record held by Alibaba. He speaks with Romaine Bostick & Katie Greifeld on "The Close." (Source: Bloomberg)