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Former Goldman Sachs analyst questions multiple rule changes before SpaceX IPO, implying retail investors may become "bagholders"

MarsBitNews
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Mars Finance news: On June 7, former Goldman Sachs analyst Dom Kwok voiced strong caution over the upcoming SpaceX IPO. He pointed out that multiple coincidences appeared in the week before the IPO: the U.S. PDT (day-trading restriction) rules were lifted, and retail investors are no longer required to have a minimum account balance of $25,000 in order to trade intraday; Fidelity will lower the minimum account threshold to participate in the SpaceX IPO from $500,000 to $2,000; and the underwriting banks announced that at the time of the IPO, they would offer retail investors up to a 30% allocation of SPCX stock, whereas under normal circumstances it is only 5%. Dom Kwok said plainly that this “is definitely not a coincidence—retail investors are getting ready to become the exit liquidity for a $2 trillion IPO.” He said he will not invest himself and will instead keep watch for the time being, but he does not completely deny SpaceX’s long-term value. Rather, he believes the current combination of policies in the IPO window is extremely unfriendly to retail investors—removing all safeguards means the risks are far greater than the opportunities—so he recommends waiting and observing rather than chasing highs to enter.
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