Five ways Elon Musk's SpaceX upended Wall Street's IPO playbook

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Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTBy Manya SainiMon, June 8, 2026 at 12:20 PM GMT+2 4 min readBy Manya SainiJune 8 (Reuters) - Elon Musk is bringing his pioneering business style to the IPO world this week when his rocket and satellite maker SpaceX goes public, in ways that no other company has.Here is how SpaceX is breaking Wall Street traditions with its record $75 billion listing.1. 'TAKE-IT-OR-LEAVE-IT' STOCK PRICINGSpaceX is targeting a ‌roughly $1.8 trillion valuation and the price of $135 per share is not up for discussion! SpaceX set the price before meetings with investors at a roadshow, which Wall Street always ‌uses to test demand and set a price range."This is a real break from the normal IPO process, as typically the price range gives investors a starting point and lets the company adjust based on feedback during the roadshow," ​said Matt Kennedy, senior ‍strategist at Renaissance Capital, a provider of IPO-focused research and ETFs."Starting with a set price turns the roadshow from a price-discovery exercise into more of a sales process."It's not clear if Musk will even attend the roadshow in person -- he showed up by video at one of the first events, in a last-minute addition to the agenda, Reuters reported.Of course, the company's ability to carry out its stock pricing plan depends on demand, and that will be clear when the final IPO price is set on June 11, with trading on Nasdaq starting the next day.2. MAKING ‌ROOM FOR MAIN STREETSpaceX is changing who gets access to shares, ⁠as well as pushing investment banks to lower their IPO fees.Mom-and-pop retail investors without millions to invest usually do not get much opportunity to buy into an IPO, but SpaceX is considering allocating as much as 30% of the offering to individual investors, Reuters previously reported, an unusually large retail ⁠tranche aimed at tapping into Musk's loyal following."The retail allocation is so massive that they probably think of the mob of individuals out there clamoring for this as a type of safety net," said Brian Jacobsen, chief economic strategist at Annex Wealth Management.Nasdaq index rules were changed in a way that could allow SpaceX to quickly join the Nasdaq 100, which would require many funds and investors that track the ​index ​to buy shares.However, the high-profile S&P 500 will remain closed to SpaceX in the short term after the ​index group declined to change rules, such as that a company must ‌be profitable. SpaceX is not.3. EARLY EXITS FOR INSIDERSSpaceX employees will be able to sell some of their shares in stages before the usual six-month restriction period ends, according to a filing, a sign that the rocket maker is not too worried about a rush of insider selling that would pressure the stock.Terms and Privacy PolicyPrivacy & Cookie SettingsMore Info