Well, the SpaceX IPO is in the books…
And at Friday’s close, the stock was officially up 19.2% from the prospectus price… valuing the compant at $2.11 trillion
Or 117x revenues if valuation is more your thing.
Making it the 7th largest company on the planet on day 1 of going public.
But what surprised me wasn’t that the stock jumped on day 1 - I always said it would
Instead a Capital Gains Multiplier member alerted me to a note they received from Fidelity.
Because Fidelity are essentially threatened to block people out of the OpenAI and Anthropic IPOs if they sell their SpaceX shares within the next 15 days.
“[If shares are sold] within the first 15 calendar days, it will affect your ability to participate in the future new issue public offerings for a defined period.”
Let’s call this for what it is…
Blatant Market Manipulation!
I’m the last person on Earth to buy and sell stock positions within a few days… but I will always support people’s right to do so.
So when brokerages start threatening to remove certain priviledges if you don’t act as they please… that disgusts me.
We saw what happened with Robinhood and the entire GME debacle… Fidelity’s move is cut from the same cloth.
Because I guarantee that any institution who got allocated IPO shares will not have the same rules apply to them
(And before anyone gets at me, I’m not talking about pre-IPO shareholders who are subject to well defined lockup periods)
Once again, rules for thee but not for me.
I hate it.
Now the good news is… what I’m going to be introducing next week IS a way to consistently profit from an edge that no institution can take away from you…
(And no, it’s not the Wheel - in fact it’s something I’ve never discussed before now)
Stay tuned, because you’re really going to like this…
Oliver