Billboards in Times Square celebrate the debut of SpaceX’s IPO on Nasdaq on June 12, 2026.
Adam Jeffery | CNBC
Private investors who were clamoring for shares SpaceXThe blockbuster IPO has received only a fraction of what many wanted, and they are already divided over what to do with the stock.
On online investment forums, users complained about allocations of just a single share despite demanding much larger amounts. Those who received shares take different approaches, with some selling when the company launches while others stay for the long haul.
Marvin Jung, a 51-year-old investor who applied for 1,000 shares Robinhood and only received 17, decided to sell his stake quickly after trading began.
“I exited my position in SpaceX stock at $160,” Jung said. “It’s struggling too much and can’t get a foothold. I’ll continue to monitor it and come back in about six months when the lockdown period is over.”
SpaceX shares rose another 6% on Monday, extending gains after the company’s record-breaking Nasdaq debut. The stock rose 19% on Friday The IPO price was around $161, up from the IPO price of $135 per share, which would push the company’s market value to over $2 trillion.
SpaceX since its IPO
Ross Cameron, 41, founder of trading education platform Warrior Trading, also got away with far fewer shares than he had aimed for. He initially applied for 2,500 shares Schwab before the order is increased early to 4,250 shares. Ultimately, he received 147 shares at the IPO price of $135.
“I would have liked more shares to be sold because that would have increased my overall profit, but I understand that demand was very high,” Cameron said. “My plan is to hold the shares until they break through $150 and take a profit as they approach $200.”
Cameron is also cautious about the coming months, expecting a wave of selling pressure once lockdown restrictions expire and additional shares become available to trade.
“I still think the next six months will see a wave of selling due to the lock-up period,” Cameron said. “I don’t think there will be enough buying to support current prices when these stocks come to market.”
Most subscribed offer
Demand was high across all brokerage platforms. SoFi Technologies said SpaceX is the largest and most subscribed offering in its history, while Charles Schwab called customer interest “unprecedented.” SoFi, Fidelity and Schwab all distributed shares to eligible customers who wanted to participate, although many investors received only a fraction of their requested orders because demand far exceeded available supply.
Other investors think longer term. Helaine Markham, co-owner of Markham Trading, received all two shares she requested in the IPO and intends to hold the stock.
Markham said she didn’t add to her position because she views SpaceX’s valuation as “aggressive” and expects additional volatility as lockdown restrictions expire and more shares become available to trade. It plans to wait for further price discovery before potentially increasing its stake.
The mixed reactions highlight the challenge investors face when trying to value one of the market’s most closely watched companies. While some see SpaceX as a rare long-term opportunity tied to the growth of Starlink and commercial space exploration, others are wary of the company’s now $2 trillion valuation and opt for early profit-taking.
Symbolic allocation of a share
Justin Sacco, founder of Sacco Financial, received 11 shares through Charles Schwab after applying for 75 shares. Instead of selling, Sacco added to his position after the stock began trading by purchasing four more shares on the open market, bringing his total holdings to 15 shares.
“I was definitely hoping to get more than 11 shares after requesting 75,” Sacco said. “At the same time, given the unprecedented demand for the IPO, I wasn’t shocked by the outcome. The fact that I received any meaningful allocation at all felt like a win.”
Sacco said he plans to hold these stocks for the long term, even as he becomes increasingly concerned about their high valuation.
Sacco had a relatively fortunate experience compared to some retail investors. On Reddit’s WallStreetBets forum, users have posted screenshots showing the allocation of just a single share despite requesting hundreds or even thousands. Others joked that the tiny allocations represented little more than a souvenir of one of the most anticipated IPOs in recent memory.
CNBC has reached out to Robinhood and ETrade for comment on the retail allocation.
