SoFi Technologies Inc.SoFi facilitated retail access to SpaceX IPO, boosting customer acquisition and cross-selling.
SoFi Technologies played a key role in the historic SpaceX IPO, which raised as much as $85 billion and achieved a $1.8 trillion valuation at the open, a valuation that has already increased to $2.5 trillion. SoFi was one of five brokerages offering shares to retail investors, with up to 30% of the IPO earmarked for them, and it granted relatively unconditional access alongside Robinhood. Retail investors bought $18 million of SpaceX stock in the first 20 minutes of trading and $118 million by day's end, according to the Wall Street Journal. SoFi's strict flipping policy, which can ban sellers from future IPOs, encourages holding and platform loyalty, while the high-profile offering could attract new customers and boost cross-selling, which reached a 43% rate in the first quarter.
SoFi Technologies Inc.SoFi facilitated retail access to SpaceX IPO, boosting customer acquisition and cross-selling.
Robinhood Markets IncRobinhood also offered SpaceX IPO shares to retail investors, potentially attracting new customers.
Space Exploration Technologies Corp. Class A Common StockSpaceX completed its IPO, raising up to $85 billion and achieving a $2.5 trillion valuation.
NVIDIA Corporation