| Mobile Web

Search results for Fidelity

Finance

SpaceX IPO draws U.S. retail investors despite overvaluation concerns

SpaceX is moving ahead with an IPO valuing the company at $1.77 trillion, pricing shares at $135, drawing strong interest from U.S. retail investors despite overvaluation concerns. Retail allocation is in the low 20 percent range, above the usual 5 to 10 percent. Fidelity set a $2,000 minimum account balance. Some investors are betting on a first-day surge, while others remain cautious about demand signals and selling restrictions.

Crypto

BlackRock\'s BITA listing seen ahead as fee set at 0.65 percent, rivalry with Goldman Sachs bitcoin spot ETF emerges

BlackRock has set the fee for its bitcoin premium income exchange-traded fund, BITA, at 0.65 percent ahead of a planned Nasdaq listing. CoinPost reported that BlackRock filed a fourth amended registration statement with the U.S. Securities and Exchange Commission on June 10. Bloomberg ETF analyst Eric Balchunas said the fee is below two large covered-call bitcoin spot ETFs. He also said BITA appears close to launch, as competition with Goldman Sachs intensifies.

Industry

With 3 million won, retail investors can buy SpaceX shares; five cautions for overseas stock buyers

SpaceX plans to sharply expand the portion of IPO shares allocated to retail investors, potentially up to 30 percent, Bloomberg reported. Subscriptions will be taken through brokers including Charles Schwab, Fidelity and Robinhood, with Fidelity allowing accounts with at least $2,000. The article flags potential oversubscription, post-listing volatility, restrictions on quick resale, historical limits of first-day gains, the company’s debt and losses, concentrated voting control by Elon Musk, and possible ticker confusion with Virgin Galactic.