NEWS: Fidelity is opening the SpaceX IPO to any customer with at least $2,000 in a retail brokerage account, down from as much as $500,000 for previous offerings.
The reason, per Fidelity's own FAQ, is that SpaceX reserved up to 30% of the offering for retail investors. Typical IPOs set aside just 5% to 10%.
Customers can request anywhere from 1 share to 1 million shares. If demand outruns supply, Fidelity will run a lottery to spread allocations as fairly as possible.
One warning for flippers. Selling allocated shares within 15 days of trading brings a 6 month ban from future IPOs at Fidelity. A second flip brings 1 year. A third is permanent.