Fidelity is lowering the minimum investment for SpaceX's initial public offering from half a million dollars to just $2,000 — a 99.6% cut that puts one of the most anticipated stock debuts in history within reach of ordinary investors. The brokerage will reserve up to 30% of the IPO shares for retail buyers, far more than the small allocations typically handed out to individuals.
How the price works
SpaceX plans to sell roughly 555.6 million shares at $135 each, with underwriters able to boost the total to $85.7 billion if they exercise options. At a valuation around $1.77 trillion, the offering would surpass Saudi Aramco's record-breaking 2019 IPO. Shares will trade on Nasdaq under the ticker SPCX, with the debut set for June 12, 2026.
The anti-flipping rule that comes with the deal
Fidelity is imposing a 15-day anti-flipping restriction: clients who sell within 15 calendar days are flagged as flippers. Penalties escalate with repeated violations, culminating in a permanent ban tied to the investor's Social Security number. Other brokers — Robinhood, SoFi, Charles Schwab, and E*Trade — enforce their own rules, typically with 30-day holding windows and various penalty durations.
What's backing the massive valuation
Goldman Sachs projects SpaceX's AI revenue will mushroom from $3.2 billion in 2025 to $322 billion by 2030 — roughly a hundredfold increase — and analysts say that forecast is the core justification for the nearly $1.78 trillion price tag. Without that revenue trajectory, the valuation would be harder to defend.
A tiny float means early swings
The free float is only about 4% — 555.6 million shares offered out of 13 billion outstanding. Such a thin float can produce sharp price swings in the first days of trading. Retail investors who get in at the $135 offer price may see volatility before the stock finds its footing.
With the offering more than a year away, Fidelity hasn't said how it will handle demand if the $2,000 minimum sparks a flood of orders. The 30% retail allocation might fill up fast.
