Elon Musk’s rocket, satellite, and artificial intelligence company, SpaceX, is preparing for an initial public offering on June 12. The debut is set to be the largest in history, and Wall Street institutions have spent months preparing the plumbing systems needed to support the event while debating the company's worth.
Demand for the offering has already attracted interest for more than four times the available shares. While the company is stopping taking orders, sources indicate that orders are still being taken and details could change. SpaceX intends for smaller-pocketed, mom-and-pop investors to play a big role in the IPO, which carries implications for banks, Elon Musk, and everyday investors.
Despite the anticipation, Wall Street analysts warn that splashy initial public offerings often skyrocket early on, only to return to earth with a thud.