Retail investors build big dreams on small slices of SpaceX

SpaceX's IPO saw overwhelming retail investor interest, with 30% of shares allocated to retail investors—the highest allocation seen in decades on Wall Street. Shares surged 19% on debut day, with retail trading of $453 million accounting for about 4% of all single-stock retail turnover, running 3.5 times the pace of runner-up Nvidia. Despite allocation shortfalls for some retail bidders, conviction among investors remained strong, with no clients of one wealth manager opting to hedge their exposure.