BenJamin

@kayakcook @SawyerMerritt @SpaceX Good question. I wonder the same but I’ll still buy some just to be a part of it.

@SawyerMerritt @SpaceX What’s the point of being on the purchase side of this IPO as a retail investor? History shows IPOs benefit early investors, or employees who want to convert some of their shares to cash, but buyers always have entry points downstream from the IPO at much better entry points.

I’ve been asked by many to create one comprehensive post explaining how to prepare for @SpaceX’s IPO if you use one of the brokerages listed in SpaceX’s S-1 filing to allocate IPO shares to retail investors. Here it is: Fidelity: 1) $500,000 minimum account balance required to participate (including IRAs, individual, etc, but excluding 401k). 2) Enter an indication of interest. The indication of interest provides Fidelity with the maximum number of shares a customer is interested in purchasing. 3) Confirm your indication of interest shares on Fidelity's website after the registration statement has been declared effective and the offering has priced, which is typically after 7 PM ET on the night of pricing. Indications of interest may not be confirmed prior to the registration statement being declared effective and the offering pricing established. By confirming your indication of interest, you are placing an order to buy shares at the offering price. If you do not confirm your indication of interest, you will not be eligible for an allocation of shares. 4) Allocation of shares will occur on the morning following pricing and is usually complete before 9:30 AM ET. An alert will be sent once allocations are complete, and you can check your account to determine whether you were allocated shares. If you receive an allocation of shares, you must have adequate funds available to settle the purchase in the settlement date which is typically the trade date plus one business day. 5) You may increase your indication of interest up through the close of the indication of interest period. You may decrease or cancel an indication of interest until share allocation takes place. Once share allocation takes place, your indication may not be canceled or modified. Charles Schwab: 1) $100,000 minimum account balance required to participate (including IRAs, individual, etc, but excluding 401k). 2) On Schwab's website, under the Trade tab, select the IPO page to view the Calendar of Offerings, a list of upcoming IPOs. Once the IPO offering window opens (expected first week of June), investors will have the ability to submit a Conditional Offer to Purchase (COTP), also known as an Indication of Interest, from this page. 3) During an IPO's open COTP window, select Start COTP to review offering details and the preliminary prospectus. Then select the green button to proceed to the Eligibility Questionnaire, which is required to confirm investors meet eligibility criteria and are not restricted (per FINRA rules) from participating. After completing the questionnaire, you'll be able to indicate how many shares you're interested in purchasing based on the price range provided. Select Confirm to submit the COTP. 4) After the COTP has been submitted, regularly monitor the IPO page, which will indicate the Status of Your Conditional Offers to Purchase (COTPs), the expected pricing date, and current pricing status, plus any changes in the prospectus. When the IPO has been priced, you will affirm your COTP. You must affirm your COTP once the effective price is established in order to be eligible to purchase shares. To do so, select Affirm Now to review and finalize the share quantity. Robinhood: 1) There's no minimum account size requirement, but you must have enough buying power to cover your requested shares if you are allocated any. You must have an individual brokerage account. Retirement, custodial, and multiple investing accounts are not eligible for IPO Access. 2) Make sure IPO Access is enabled in your Robinhood app. Turn on your IPO notifications so that Robinhood notifies you when the SpaceX IPO comes online. 3) Request Shares: Once the IPO is announced and available, you can request shares through the app or website. This is a request for IPO shares. By placing a conditional offer to buy (COB), you’re asking for the opportunity to purchase a quantity of shares at the IPO price. An investor may place, edit, or cancel a COB after the initial price range is published and before the confirmation period ends. 4) Allocation is random and not guaranteed. The number of shares you request factors into how many you actually get, but it doesn’t affect the likelihood that you’ll get any allocation. You may get all, some, or none of the IPO shares you request. E*Trade: 1) E*TRADE does not publicly list a specific minimum account size required to participate in IPOs, but contact them to double check. That said, allocation priority for “hot” IPOs may still favor larger or more active accounts in practice, even if there’s no official minimum balance requirement. 2) Be a U.S. resident, have an active E*TRADE account (Individual, Joint and IRAs are all eligible) and complete the investor profile questionnaire. 3) Sign up for IPO alerts. 4) Submit a conditional offer to buy ("COB"). As part of this submission, you specify the number of shares and the maximum price you are willing to pay per share. COBs can only be submitted via the New Issue Center. A COB may be submitted once an offering is listed as "open" up until the status is changed to "closed." COBs that have already been submitted may be amended or cancelled after an offering is "closed" up until the status is changed to "allocate." At this point, no further changes may be made to a COB and you are bound by the terms of your COB. If there is no material change in an offering, customers will not need to reconfirm their COBs. If you have submitted a conditional offer, you must have available buying power to cover the full amount of your conditional offer in the account through which you submitted the conditional offer. 5) Shares are allocated to eligible accounts as a proportion, or percentage, of the size of their COB. The percentage is based primarily on the number of shares provided to E*TRADE for sale to its customers and the size of the overall demand for shares from E*TRADE's customers. Given the expected high demand for this offering and the limited availability of shares available for sale to E*TRADE customers, many COBs may not be allocated shares (according to E*Trade). Additionally, in many instances, allocations will be significantly smaller than the size of shares requested in a customer's COB. 6) E*TRADE makes its allocations after the pricing of the overall offering but before the stock begins trading. E*TRADE will inform customers via alert or email whether they have been allocated shares. Any allocation should be reflected in the relevant customer account once that allocation has been processed by E*TRADE. Sofi: 1) There is no minimum account balance/size requirement. Have an active Self-Directed Invest account. 2) Go to the “IPO Investing” section in the app or website 3) Select the IPO 4) Complete the IPO suitability questionnaire 5) Submit an “Indication of Interest” (IOI), which is basically a non-binding request for shares. 6) When the IPO is officially priced, SoFi will notify you to confirm your order. NOTE: Don’t be surprised if you receive fewer IPO shares than you requested, or none at all. Demand for the limited number of IPO shares available to retail investors will likely be extremely high, and each participating brokerage will only receive a limited allocation of shares to distribute to retail investors. For our international friends, keep in mind that @SpaceX said in their S-1 filing that allocations will also be made to retail investors by the underwriters, which include: • Goldman Sachs • Morgan Stanley • Bank of America • Citigroup • J.P. Morgan • Barclays • Deutsche Bank Securities • RBC Capital Markets • UBS Investment Bank • Wells Fargo Securities • Allen & Company • Cantor • Needham & Company • Raymond James • Societe Generale • Stifel • William Blair • BTG Pactual • ING • Macquarie Capital • Mirae Asset Securities • Mizuho • Santander so you can try reaching out to one of these places if you have assets with them and you may be able to request an allocation of some shares. I've already seen that happen with some Goldman Sachs clients. Lastly, and I stated this in a previous post, @SpaceX specifically stated in their S-1 filing that any purchase of their Class A common stock in this offering through these platforms will be at the same IPO price, and at the same time, as any other purchases in this offering, including purchases by institutions and other large investors, which means any retail investors that are lucky enough to get allocated some SpaceX IPO shares will pay the same price as the big guys. This will likely be the largest retail IPO share allocation in history, by far. If you have more questions, reach out directly to your brokerage and/or bank. And no, this post wasn't written by AI lol. Not financial advice.

@JeffBezos Grok told me 40% of adults in the US have no tax liability currently

Yes, the United States has the most progressive tax system in the world. The top 1% pay 40% of taxes, the bottom 50% pay 3% of taxes. We can make it even more progressive by zeroing out taxes on the bottom half. It’s a small amount of the total tax revenue but very meaningful to people in this group.

@Mr_Derivatives No… only Roses Odonnel

It finally hit me, Jerome Powell is gone. Like officially done. Out. During his tenure, the $SPX annualized a 13% CAGR since 2018. Third best amongst all Fed chairs. And ya’ll hate him…. Eeesh

@Mr_Derivatives No. Why?

It’s all about the bonds. It has always been about the bonds. And will always be about the bonds. I just read this on the Internet. Do you agree or agree to disagree?

@Mr_Derivatives Even if he is right, it doesn’t matter. If the market crashes, I’ll just buy more. The market chopped for six months, fell to support and then took off. That implies to me that there is general consensus on prices right now.

“The Big Short” investor stated in a Substack post that the Nasdaq 100 is currently trading at levels that are too good and too lucky to be real. “This, all of it, is the scene of the bloody car crash, minutes before it happens.” -Michael Burry today on his $40/month Substack

@JenniferLowRent @sama But kind of feels like this

@sama Elon Musk watching Sam Altman on X:

man its good to be back on twitter there is comfort in the skills of a wasted youth

@JenniferLowRent @sama Maybe instead?

@unusual_whales Sorry but didn’t follow you for news/politics. Goodbye.

"In his second administration, President Trump’s family, including his son-in-law Jared Kushner and sons Eric and Don Jr., are expanding their business ventures, earning hundreds of millions of dollars and prompting fresh concerns about influence peddling and conflicts of interest," per PBS

@Mr_Derivatives Generally speaking, land lords are looking to cash flow on property. This means the renter is covering all costs including maintenance. So if you are covering the costs, you might as well pocket the spread and own the house and benefit from appreciation.

Once a week I swear to God, I see the ageless rent vs. own debate on X's newsfeed. And you know what?! There is no right or wrong answer! There's some many factors and variables that there shouldn't be an absolute/binary answer to this question. I would just say this, to each their own. On the surface level, yes there's pros and cons to both. And of course a whoever you debate this with will be bias depending if they are a renter or owner. So the responses are almost always skewed anyways. Anyways, personally, I've rented before and currently own. And I can say I understand BOTH sides. There.

@PatrickPatten8 @DivesTech @CNBCClosingBell @grok is this a bot or a liar? I use fsd every day, over a hundred miles a week on the highway and in the city

@DivesTech @CNBCClosingBell Yeah but musk has made so many unfulfilled promises at this point it’s hard to say what the real direction is. And FSD is a joke. Where’s the semi? Where’s the roadster? Idk maybe it’s just me; I don’t trust that nazi.

It’s about Tesla and Musk laying out the AI path for Cybercab, FSD, and Optimus over the coming year and executing on the vision @CNBCClosingBell 🎯👇

@authorTWRose @pmarca You read his posts.

@pmarca The gulf between how important this guy [and similar cultish tech guys] thinks he is and how important he actually is is wildly broader than I’ve ever experienced. And widening further by the day.

The gulf in knowledge between the West Coast and East Coast is wildly broader than I’ve ever experienced, in both directions. And widening further by the day.

@BrainzBugg @Pauledroberts @meganululani @seattletimes Your small mindedness is enormous. Being in physical proximity isn’t nearly as productive as you think it is.

@Pauledroberts @meganululani @seattletimes Sorry i find humor in the remote worker’s plight, imagine having to actually go in to the office. Lol. Remote work is elitist, anti-social, and self serving, time to end that gravy train.

“When the company says Seattle is still the headquarters, people are just rolling their eyes,” a senior Starbucks executive said. “Everyone is just completely resigned to the idea that this company is moving to Tennessee.” w @meganululani @seattletimes seattletimes.com/business/starb…

@Mr_Derivatives @grok why does tom Lee think the market will see a 15-20% pullback?

🚨 Just in today. Tom Lee who accurately called for ATH’s this month, reiterates we will see 7,300 on the $SPX in the near term then we might see a 15-20% drawdown after, before a Q4 rally back to ATH’s at 7,700 to close the year. So timeline looks something like this: 7,300 (Q2) ➡️ 5,840-6,205 (Q3) ➡️ 7,700 (Q4)

THE ARTEMIS II ECLIPSE. April 6, 2026. Totality, beyond Earth. From lunar orbit, the Moon eclipses the Sun, revealing a view few in human history have ever witnessed. Photo: NASA

@StockSavvyShay And innovation lead to better productivity (higher income). We will soon hit a critical level of consumption and resources will have to be limited and much discussion will be around how resources are distributed.

@StockSavvyShay Compare 100 years ago to today and tell me we (in the USA) don’t have high income. Yet there is so much economic strife. Society has demonstrated for millennia that inequality AND freedom lead to higher motivation, and higher motivation lead to faster innovation

Elon Musk says AI could make jobs “optional” in the future. He believes advanced AI may enable a “universal high income” society.

@Mr_Derivatives @AsianDawn4 I will unsubscribe if you post anymore of this stuff

@AsianDawn4 That’s enough Internet for me today…

🇯🇵 WTF. Playing the flute with your ass isn't a talent 😂

@Rainmaker1973 @grok why was the plane banking as it touched the water?

In 1997, this Ethiopian Boeing 767 ran out of fuel and crashed into the ocean after hijackers try to force the pilot to fly to Australia, killing 125 of the 175 on board.

@MeatEaterTV I will unfollow if you post more comments like this.

We've seen some nasty wildlife cases in our day, but this one leaves us speechless. themeateater.com/conservation/w…

@grok @Django_tradez @Mr_Derivatives Grok that isn’t Burry. Isn’t it Schiff?

@Django_tradez @Mr_Derivatives That's Michael Burry, the investor known for predicting the 2008 financial crisis, as depicted in "The Big Short."

He was right all along….