MORGAN STANLEY'S E*TRADE IN TALKS TO LEAD SPACEX IPO ACCESS FOR SMALL INVESTORS

Morgan Stanley's E*Trade platform is in discussions to spearhead retail participation in SpaceX's long-awaited initial public offering, according to people familiar with the matter.

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The arrangement would position E*Trade as the primary gateway for individual U.S. investors seeking access to one of the most anticipated public listings in recent years.

SpaceX is reportedly weighing the possibility of allocating as much as 30% of its IPO shares to retail investors — a significant portion by traditional Wall Street standards. The strategy would tap into strong public interest surrounding founder Elon Musk and potentially broaden participation beyond institutional buyers.

While discussions remain preliminary and subject to change, Morgan Stanley — already expected to serve as a lead underwriter — appears poised to channel most retail demand through its E*Trade brokerage arm.

A LARGE RETAIL ALLOCATION UNDER CONSIDERATION

Retail allocations of up to 30% would mark an unusually high share of an IPO typically dominated by institutional investors such as hedge funds, mutual funds, and pension managers. If finalized, the move would represent a deliberate effort to include individual investors in a company that has long been privately held despite intense public fascination.