Elon Musk Denies Reports SpaceX IPO Will Exclude Robinhood and SoFi, But Why?
Elon Musk refuted reports suggesting SpaceX's IPO would exclude retail brokerages Robinhood and SoFi, despite earlier claims they might be cut out.Summary
Elon Musk publicly denied reports, initially spread by a Reuters article, claiming that SpaceX was considering excluding retail-focused brokerages Robinhood Markets (HOOD) and SoFi Technologies (SOFI) from its potentially massive initial public offering (IPO). The Reuters report suggested Morgan Stanley’s E*Trade was in talks to lead the retail share sale, potentially sidelining Robinhood and SoFi, despite both having pitched for roles in the deal. Musk swiftly dismissed these rumors as false via a public statement. The exclusion of Robinhood was particularly concerning because it is a dominant brokerage for younger investors, who often overlap with the SpaceX and Tesla fan bases, and SpaceX is reportedly planning to reserve up to 30% of its IPO for retail investors. While Musk's denial suggests retail-friendly platforms will not be excluded, whether Robinhood ultimately secures a formal distribution role remains undetermined.
(Source：BeInCrypto)