Ludlow Says SpaceX IPO Retail Allocation Set at 20% Instead of Near 30%

Analyst Ludlow said the difference between setting SpaceX’s retail allocation at 20% rather than closer to 30% is important during the company’s IPO process. According to Odaily, Ludlow said insiders repeatedly told him that retail investors were expected to play a central role in the offering. He said SpaceX management believes retail investors will hold shares for the long term, similar to the retail investor base that forms a core part of Tesla’s shareholders. Ludlow added that retail subscription demand reached $100 billion and that the offering was heavily oversubscribed, leaving many investors disappointed in the market.