2026年6月8日 / 美国东部时间下午6:04 / 哥伦比亚广播公司新闻
SpaceX本周将正式挂牌上市，普通投资者将有机会参与这场预计将成为史上规模最大的首次公开募股（IPO）。
尽管SpaceX的主要股权仍将由首席执行官埃隆·马斯克、公司员工和私人投资者持有，但这家总部位于得克萨斯州的公司将预留相当比例的股票面向散户投资者，专家称这一安排并不常见。今年早些时候，路透社报道称，这家火箭与人工智能公司最多30%的股份将面向个人投资者，这一比例是常规分配额度的三倍。
根据SpaceX的IPO官网信息，SpaceX股票定于周四定价，并于次日在纳斯达克综合指数板块挂牌交易，股票代码为“SPCX”。
SpaceX在近期的一份监管文件中表示，预计每股股票定价为135美元。不过，跟踪IPO市场的 Renaissance Capital 高级市场策略师马修·肯尼迪指出，公司可在交易开始前调整定价。
SpaceX预计本次募资将达到750亿美元，几乎是2019年沙特阿拉伯国家石油公司沙特阿美上市时募资额的三倍，而后者至今仍是史上规模最大的IPO。
SpaceX本次上市的估值将达到1.77万亿美元，超过多家老牌美国大型企业，其中包括马斯克的电动汽车制造商特斯拉（市值1.5万亿美元）、Meta平台（1.4万亿美元）以及沃伦·巴菲特旗下的伯克希尔哈撒韦公司（1.04万亿美元）。
如何购买SpaceX股票？
正如SpaceX在其官网上说明的那样，散户投资者需要通过经纪账户或合作的数字投资应用程序参与本次IPO。
“你提交参与申请后，经纪账户或投资应用程序将确认你是否符合资格，”SpaceX在其官网上写道。
SpaceX将通过嘉信理财（Charles Schwab）、摩根士丹利旗下的E*TRADE、富达投资（Fidelity Investments）、罗宾汉（Robinhood）和SoFi向散户投资者发售股票。
Renaissance Capital的肯尼迪表示，对于大多数散户投资者而言，这五家平台将是首选渠道。他指出，高净值个人也可能通过各自的银行机构获得IPO申购资格，“部分合格投资者或许可以通过摩根大通等机构参与申购”。
SpaceX股票正式公开交易后，任何人都可以在公开市场买入。专家解释称，持有指数型交易所交易基金（ETF）的投资者可能很快就会发现，SpaceX股票已被纳入其投资组合，这意味着美国投资者最终可能通过其401(k)退休账户间接持有SpaceX股票。
东北大学金融学副教授卡尔蒂克·克里希南表示，投资者通常可以通过所谓的“私人市场交易”在IPO前买入公司股票，即从现有股东（如公司员工）手中购买股票。但这类交易仅限符合特定资产门槛的合格投资者参与。
不过，至少两家此类二级交易平台——Forge Global和Rainmaker Securities——表示，他们已不再提供SpaceX股票的相关服务。
“随着市场参与者纷纷选择持有股票并将注意力转向公司在公开市场的表现，SpaceX股票的新私人二级交易机会已变得越来越有限，”Rainmaker Securities首席执行官格伦·安德森在发给哥伦比亚广播公司新闻的邮件中说道。
尽管如此，里特提醒称，此类交易可能十分复杂，会放大投资风险。
“在这个阶段，如果你还不是这些平台上的经验丰富的投资者，现在不要开始尝试，”他说。
如何通过经纪账户购买SpaceX股票？
每家经纪平台都有各自的散户投资者参与SpaceX IPO的操作指南。通常流程包括设置投资者个人档案、确认申购资格并提交想要购买的股票数量申请。
“你可以选择申购最多100股，然后在公司挂牌交易前一天，你会收到确认通知，”肯尼迪说，“你需要确认仍希望申购最多100股，然后在上市当日早晨，你要么会获得100股，要么只能获得更少的份额。”
正如部分经纪网站所提示的，提交申购申请并不保证一定能获得股票——能否中签取决于供应量。
“如果你申购100股，有可能全额中签，”佛罗里达大学教授、IPO倡议项目主任杰伊·里特说道，“但更有可能的是……你只能获得申购份额的一部分。”
根据主流经纪公司的信息，以下是上市后购买SpaceX股票的相关要求：
- 嘉信理财： 据投资咨询公司The Motley Fool透露，该公司的IPO平台要求投资者拥有至少10万美元的“流动净资产”。
ETRADE： 据The Motley Fool介绍，参与申购无账户最低资金要求。
- 富达投资： 该公司表示，任何拥有零售经纪账户且账户内资产不低于2000美元的投资者均可参与申购。
- 罗宾汉： 据The Motley Fool介绍，无账户最低余额要求。
- SoFi： 这家数字金融公司表示，任何拥有活跃投资账户的投资者均可参与本次IPO申购，无最低账户余额要求。
普通投资者可购买多少SpaceX股票？
根据美国证券交易委员会（SEC）近期提交的文件，SpaceX将在本次“公开流通股”中发售555,555,555股A级普通股，即公司可供公开交易的股票数量，约占公司总股份的4.25%。
路透社5月下旬援引一位知情人士的消息报道称，本次IPO最多30%的股份将预留面向散户投资者。肯尼迪表示，剩余70%的股份将分配给大型机构投资者，如对冲基金或共同基金经理。
跟风买入是个好主意吗？
里特表示，以发行价申购SpaceX股票有望获得更高收益。根据他对1980年至2024年间9200多起IPO案例的研究，新上市公司首个交易日的平均回报率约为19%。
但从长期来看，此类投资的风险要高得多。里特的研究显示，在公司上市首日收盘价买入股票的投资者，其三年经市场调整后的平均回报率为-21%。
肯尼迪表示，投资者或许更明智的做法是先观望SpaceX股票的交易表现再决定是否进场，他指出IPO后数日内股价可能会出现剧烈波动。
晨星公司也认为投资者不妨再等等。这家全球投资研究机构在本月早些时候的一份研究报告中表示，SpaceX目前“估值显著过高”，投资者将有机会在IPO后以“更具吸引力的价位”买入该股。
How to buy SpaceX shares as its blockbuster IPO readies for liftoff
June 8, 2026 / 6:04 PM EDT / CBS News
SpaceX is set this week to launch as a publicly traded company, giving ordinary investors a chance to participate in what is expected to be the biggest initial public offering of all time.
While SpaceX will be held primarily by CEO Elon Musk, company employees and private investors, the Texas-based company will set aside a sizable chunk of stock to retail investors, which experts say is unusual. Earlier this year, Reuters reported that as much as 30% of the shares of the rocket and AI company will go to individual investors, three times the usual allocation.
SpaceX shares are scheduled to price on Thursday and begin trading the following day on the Nasdaq Composite Index under the ticker symbol “SPCX,” according to SpaceX’s IPO website.
SpaceX said in a recent regulatory filing that it expects to price its shares at $135 each. However, the company could increase or decrease the price before trading begins, said Matthew Kennedy, a senior market strategist at Renaissance Capital, which tracks IPOs.
The company expects to raise $75 billion in the offering, nearly three times the amount raised when Saudi Aramco, Saudi Arabia’s state-owned national oil company, went public in 2019, in what remains the largest-ever IPO.
SpaceX’s offering would value it at $1.77 trillion, larger than many major U.S. companies that have been around for years. That includes Musk’s electric car maker, Tesla, which has a market value of $1.5 trillion; Meta Platforms ($1.4 trillion); and Warren Buffett’s Berkshire Hathaway ($1.04 trillion)
How do I buy SpaceX stock?
As SpaceX explains on its website, retail investors will need a brokerage account or a participating digital investing app to participate in the IPO.
“Your brokerage account or investing app will confirm whether you’re eligible when you submit your request to participate,” SpaceX says on its website.
SpaceX is offering shares to retail investors through Charles Schwab, E*TRADE by Morgan Stanley, Fidelity Investments, Robinhood and SoFi.
Kennedy of Renaissance Capital said that for most retail investors, those will be the five go-to platforms. High-net-worth individuals may also have access to the IPO through their own banking institution, he noted. “There might be some accredited investors that can access it through, say, JPMorgan.”
After SpaceX shares begin trading publicly, anyone can buy them on the open market. People with index-based exchange-traded funds may also soon find that SpaceX stock has been added to their investment portfolio, experts explained. That means Americans may eventually see exposure to SpaceX through their 401(k)s.
Investors can normally access shares of a company before an IPO through so-called private-market transactions, which involve purchasing stock from an existing shareholder, such as a company employee. Participation is limited to accredited investors with certain asset thresholds, said Karthik Krishnan, an associate professor of finance at Northeastern University.
However, at least two platforms for such secondary trades — Forge Global and Rainmaker Securities — said they are no longer offering access to SpaceX shares.
“Opportunities for new private secondary transactions in SpaceX shares have become increasingly limited as market participants seek to hold their shares and shift attention to the company’s performance in the public markets,” Glen Anderson, CEO of Rainmaker Securities, told CBS News in an email.
Still, Ritter cautioned that such transactions can be complex, amplifying the risks.
“At this point, I would recommend, if you’re not already an experienced investor on those platforms, this is not the time to start,” he said.
How do I buy SpaceX shares through a brokerage account?
Each brokerage platform offers its own instructions for how retail investors can participate in SpaceX’s IPO. That generally involves setting up an investor profile, confirming your eligibility and submitting a request for the number of shares you want to buy.
“So you might say I want to buy up to 100 shares. Then the day before the company begins trading, you will get a confirmation,” Kennedy said. “You’ll have to confirm that you’d still like to buy up to 100 shares, and then the morning of the deal, the morning of the listing, you’ll either get 100 shares or less.”
As some brokerage sites note, requesting shares doesn’t guarantee you will receive them — availability depends on supply.
“If you ask for 100 shares, maybe you’ll get 100,” said Jay Ritter, a professor and Director of The IPO Initiative at the University of Florida. “More likely… you’ll probably only get a fraction of the shares that you asked for.”
Here are the requirements for buying SpaceX shares after it goes public, according to leading brokerage firms:
- Charles Schwab. The financial service firm’s IPO platform requires investors to have a “minimum liquid net worth” of $100,000, according to The Motley Fool, an investing advice company.
ETRADE. There is no account minimum to participate, per The Motley Fool.
- Fidelity. The company said anyone with a retail brokerage account with $2,000 or more is eligible to participate.
- Robinhood. No minimum account balance, according to The Motley Fool.
- SoFi. The digital finance company said anyone with an active investing account is eligible to participate in the IPO, with no minimum account balance required.
How many SpaceX shares will be available for average investors?
According to a recent SEC filing, SpaceX is offering 555,555,555 class A common shares as part of its “public float,” the number of shares a company makes available for public trading. That’s about 4.25% of the company’s total stock.
Reuters, citing a person familiar with the matter, reported in late May that as much as 30% of SpaceX’s IPO could be set aside for retail investors. The remaining 70% would go to large institutional money managers such as hedge funds or mutual fund managers, according to Kennedy.
Is hopping on the bandwagon a good idea?
Getting in on SpaceX shares at the offer price could yield higher returns, Ritter said. According his research, which analyzed more than 9,200 IPOs from 1980 to 2024, the average return for a newly public company on its first day of trading is about 19%.
Yet such investments are far riskier over the long term. The average three-year market-adjusted return for investors who buy shares at the closing price on a company’s first day of trading is -21%, according to Ritter’s research.
Kennedy said it may be wiser for investors to wait and see how SpaceX’s stock trades before taking the plunge, noting that shares can be volatile in the days immediately following an IPO.
Morningstar also thinks investors may be better off biding their time. The global investment research firm said in a research note earlier this month that it believes SpaceX has been “significantly overvalued” and that investors will have a chance to buy stock at “more attractive levels” after the IPO.
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