Times Square billboards celebrate SpaceX’s Nasdaq IPO on June 12, 2026.
Adam Jeffery | CNBC
Retail investors who demanded shares in EspaceX’s blockbuster IPO received only a fraction of what many had asked for, and are already divided on what to do with the stock.
On online investment forums, users have complained about allocations as small as a single stock when asking for much larger amounts. Those who received shares take different approaches, with some selling during the company’s initial market debut while others stay for the long term.
Marvin Jung, a 51-year-old investor who applied for 1,000 shares through Robin Hood and only received 17, chose to quickly sell its stake after negotiations began.
“I liquidated my position in SpaceX stock at $160,” Jung said. “He’s having too much trouble and can’t find his place. I’ll keep watching and come back in about six months, when the confinement period is over.”
SpaceX shares rose another 6% Monday, extending gains after the company’s record debut on Nasdaq. The stock jumped 19% on Friday to close around $161, up from its IPO price of $135 per share, putting the company’s market value above $2 trillion.
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SpaceX since its IPO
Ross Cameron, 41, founder of trading education platform Warrior Trading, also walked away with far fewer shares than he wanted. He initially requested 2,500 shares via Schwab before increasing the order to 4,250 shares before the deadline. He ultimately received 147 shares at the IPO price of $135.
“I would have liked more shares to have been filled because that would have increased my total profit, but I understand the demand was very high,” Cameron said. “My plan is to hold the stock until it goes above $150, and take a profit if it gets closer to $200 per share.”
Cameron is also cautious about the coming months, expecting a wave of selling pressure once the lockdown restrictions expire and additional shares become available for trading.
“I still think the next six months are going to create a wave of sales because of the lock-up expiration period,” Cameron said. “I don’t think there will be enough buying to support current prices when these stocks hit the market.”
Most subscribed offerDemand was intense on brokerage platforms. SoFi Technologies said SpaceX was the largest and most subscribed offering in its history, while Charles Schwab described customer interest as “unprecedented.” SoFi, Fidelity, and Schwab all allocated shares to eligible customers who wanted to participate, although many investors received only a fraction of their requested orders, with demand far outstripping available supply.
Other investors take a longer-term view. Helaine Markham, co-owner of Markham Trading, received the two shares she requested in the IPO and intends to keep the shares.
Markham said she did not add to her position because she views SpaceX’s valuation as “aggressive” and expects additional volatility as lock-up restrictions expire and more shares become available for trading. It plans to wait for further price discovery before potentially increasing its stake.
The mixed reactions underscore the challenge facing investors trying to add value to one of the market’s most closely watched companies. While some see SpaceX as a rare long-term opportunity tied to Starlink’s growth and commercial space exploration, others are wary of the company’s current $2 trillion valuation and are opting to take profits early.
Symbolic attributions of an action-, founder of Sacco Financial, received 11 shares through Charles Schwab after asking for 75. Rather than sell, Sacco strengthened his position after the shares began trading, purchasing four additional shares on the open market and bringing his total holdings to 15 shares.
“I was certainly hoping to receive more than 11 shares after asking for 75,” Sacco said. “At the same time, given the unprecedented demand for the IPO, I was not shocked by the result. Having received a significant allocation felt like a victory to me.”
Sacco said he plans to hold these stocks for the long term, although he is increasingly concerned about the high valuation.
Sacco’s experience has been relatively fortunate compared to that of some retail investors. On Reddit’s WallStreetBets forum, users posted screenshots showing allocations for a single share despite claims of hundreds or even thousands. Others joked that the tiny allocations amounted to little more than a souvenir from one of the most anticipated IPOs in recent memory.
CNBC has reached out to Robinhood and E-Trade for comment on the retail allocation.