I'm trying to understand how retail doesn't get hosed in the short term on the SpaceX IPO. On June 12th its float is expected to be 5% of total shares outstanding (worse than a bundled shitcoin), with a price to rev of 100x (that's 10x the average of FAANG) at a valuation of $1.75 trillion.
To compound everything, a large portion of shares begin vesting 60 days after the IPO, and after 15 days it's expected to be added to all the major indices.
The only positive outcome short-term outcome I can see for PA is if SpaceX becomes another cult stock where shorts habitually get squeezed. However, I would think the major market participants have done enough DD to account for that possibility.
Hopefully retail doesn't get stuck holding the bag again.