Deen Noory, a 41-year-old fintech entrepreneur, plans to buy SpaceX shares when they debut in the biggest initial public offering of all time. Musk is counting on retail investors like Noory to help him become the world's first trillionaire.
The stock offering will be a landmark moment for everyday investors in Wall Street's retail revolution. Over the past few years, individual investors have coalesced into a market-moving force, upending hedge-fund bets and sending favored stocks soaring.
Musk has promised to return the favor, setting aside an unusually large portion of SpaceX shares for individual investors. However, even that sizable chunk will likely fall short of demand.
Financial firms are responding with enthusiasm, holding information meetings and offering access to IPOs. But critics warn that the risks of holding SpaceX shares extend to millions of rank-and-file savers.
SpaceX's valuation grew more than 2,000% in the past few years, and individual investors missed out on nearly all those gains. They would have the most to lose if share prices fall.
Despite the risks, many retail investors are eager to get in on the action. They're drawn to Musk's long-term vision of a multiplanetary future powered by superhuman artificial intelligence.
As the SpaceX IPO approaches, investors are advised to strap on their seat belts. The stock market is expected to be volatile, and some experts warn that retail investors should avoid trading this like the plague.
