Key Points
SpaceX is set to go public on the Nasdaq stock exchange on June 12.
It could be the biggest public stock debut of all time.
There are several different strategies for investing.
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After years of speculation about an initial public offering (IPO), SpaceX shares are expected to start trading on the Nasdaq stock exchange on June 12. Projections foresee it raising $75 billion, making it the largest IPO of all time.
Before the big day arrives, there are a few tidbits of information to look at that can help any investor who wants to buy shares start setting up their game plan. That includes details of everything from who can invest at the IPO price to which types of orders can be placed to a way to gain exposure to SpaceX without directly investing.
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Understanding the SpaceX IPO price
For the SpaceX IPO, there will be two prices investors will hear about. The IPO price is the price at which a company sells shares to select investors and institutions, while the public typically can only buy shares when it publicly debuts, and the stock will likely launch with a different price on its first trading day. For instance, Cerebras Systems, a rival to Nvidia, had its own recent high-profile public offering. Its IPO was priced at $185, but shares began trading to the public at $350 per share.
According to Barron's, five online brokers are offering customers the opportunity to buy shares at the SpaceX IPO price, which is $135 right now: RobinHood Markets, SoFi Technologies, Charles Schwab, Fidelity, and E*TRADE from Morgan Stanley. There are, however, different rules for qualifying to buy shares at that IPO price based on the brokerage, and it isn't guaranteed that investors who place an order at that price will get all the shares they want or, for that matter, any at all.
Buying shares on the day the stock goes public
If you are planning to invest on the day the company goes public, the most direct way is to use an online broker, search for the ticker SPCX, and place an order. Investors can choose a market order to buy shares and own SpaceX stock immediately. Another strategy is to set a limit order, which buys shares at a specific price if it is reached.
The main benefit of the market order is immediacy and locking in those shares, while a limit order gives more potential control over the price. With a limit order, however, the risk is that it never reaches the target price and is eventually canceled.
Gaining exposure but limiting risk
"The increasing number of commercial space launches and the upward trend in upmass [measured in kilograms] serve as unmistakable signs of space industry growth. Space is a high-risk, high-reward industry, however," according to a research report from The Motley Fool.
For risk-averse investors looking to avoid the volatility of holding SpaceX directly, exchange-traded funds (ETFs) that will own shares of it -- along with other equities -- are an investment vehicle to consider. One that will immediately give you exposure to SpaceX is the Tema Space Innovators ETF (NYSEMKT: NASA). It already owns shares of SpaceX through a special-purpose vehicle (SPV), and those shares are subject to a lockup period of at least six months. After that lockup period is over, those shares will convert to freely traded shares.
As of May 29, this ETF's SpaceX shares were valued at over $171 million, and it may also buy SpaceX stock after the company goes public.
The benefit of this ETF for investors who want to own a piece of SpaceX but are worried about risk is that it isn't solely reliant on SpaceX for its success. As of June 1, its SpaceX SPV exposure was tied with the space exploration company Intuitive Machines as its third-largest holding, with each having a portfolio weight of 6.5%. Its top holding was rocket launch company Rocket Lab (11% portfolio weight), followed by aerospace imagery company Planet Labs PBC (6.6% portfolio weight).
Ready to invest in the SpaceX IPO?
No matter what path you want to take, investors ready to put their money into SpaceX would be well served by having their game plan in place before IPO day.
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Charles Schwab is an advertising partner of Motley Fool Money. Jack Delaney has positions in SoFi Technologies. The Motley Fool has positions in and recommends Intuitive Machines, Nvidia, Planet Labs PBC, and Rocket Lab. The Motley Fool recommends Charles Schwab and Nasdaq and recommends the following options: short June 2026 $97.50 calls on Charles Schwab. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
