SpaceX has officially filed its S-1 with the SEC, and for the first time in the company’s history, retail investors may have a genuine shot at buying in at the IPO price — not the aftermarket. With shares potentially trading as early as June 12, 2026, the window to prepare is narrow. Here’s what you need to know and do right now.

Why This IPO Is Different for Retail

Most high-profile IPOs lock retail investors out entirely, leaving them to buy shares on the open market at a premium after institutional allocations drive the price up. SpaceX’s S-1 filing takes a different approach: it explicitly names retail brokerage platforms as allocation channels, meaning everyday investors can submit an indication of interest (IOI) and potentially receive shares at the same IPO price as institutional buyers.

According to the S-1, the confirmed retail-accessible brokerages are Charles Schwab, Fidelity, Robinhood, SoFi, and E-Trade by Morgan Stanley. If you already have an account at one of these platforms, you may already be closer than you think — but there are requirements to meet first.

Key Dates to Have on Your Calendar

Event	Expected Date
S-1 Filed (Public)	May 20, 2026
Investor Roadshow	~June 4–8, 2026
IPO Pricing	~June 11, 2026
First Trading Day (Nasdaq: SPCX)	~June 12, 2026

These dates are based on current reporting and subject to change. The roadshow is when SpaceX’s leadership will pitch institutional and select retail investors — pricing typically follows within days of its conclusion.

Action Plan: What to Do at Each Brokerage

Fidelity

Fidelity is one of the more established IPO platforms and has historically offered retail IPO access to qualifying customers. According to Fidelity’s general IPO eligibility criteria, you typically need:

• A minimum of $100,000–$500,000 in household assets held at Fidelity (excluding institutional or annuity assets), or
• Status as a Premium or Private Client Group customer
• Any IOI must be for a minimum of 100 shares

Action: Log into your Fidelity account and check your household asset total under Account Summary. If you’re below the threshold, consider whether consolidating assets from other institutions makes sense before the roadshow begins. Watch for an IPO notification in the Fidelity IPO Center once the offering goes live.

Robinhood

Robinhood has offered IPO access to all users through its IPO Access feature in the past, with no minimum balance requirement — though allocations are not guaranteed and are typically small for high-demand offerings. Given the expected demand for SpaceX shares, competition for allocations will be intense.

Action: Ensure your Robinhood account is fully verified and funded. Navigate to the IPO Access section of the app and enable notifications so you don’t miss the indication-of-interest window when it opens.

Charles Schwab

Schwab’s IPO participation typically requires an active brokerage account in good standing. Schwab has historically given preference to customers with higher account balances for oversubscribed offerings.

Action: Confirm your account is active and funded. Contact Schwab directly or check their IPO Center for SpaceX-specific eligibility details once the roadshow launches.

E-Trade by Morgan Stanley

E-Trade offers IPO participation through its platform, and Morgan Stanley’s involvement as a named brokerage in the S-1 is significant — Morgan Stanley is one of the lead underwriters, which may translate to a larger retail allocation through this channel.

Action: Log into your E-Trade account and navigate to the IPO Center. Make sure your account has sufficient funds and that you’ve completed any required investor profile questionnaires.

SoFi

SoFi has positioned itself as a retail-friendly IPO platform and has offered access to previous high-profile offerings. Requirements are generally less stringent than traditional brokerages.

Action: Ensure your SoFi Invest account is active. Monitor SoFi’s IPO page and enable push notifications for new offerings.

What You’re Actually Buying Into

Before submitting an IOI, it’s worth understanding the financials. According to SpaceX’s S-1, the company generated $18.7 billion in revenue in 2025 but recorded a net loss of $4.9 billion for the same year. In Q1 2026, SpaceX reported $4.69 billion in sales alongside a loss of $4.27 billion — driven in part by $12.7 billion in AI spending in 2025 alone. These figures now include xAI (acquired February 2026) and X Holdings.

Analysts estimate the IPO could value SpaceX at $1.75 trillion to $2 trillion, with the company targeting a capital raise of $40–$80 billion. Elon Musk will retain majority voting control through Class B shares, and his compensation package includes 1 billion Class B shares tied to market cap milestones — including establishing a permanent human colony on Mars.

This is a high-growth, high-loss profile. The Starlink business provides recurring revenue, but the consolidated entity is spending aggressively on AI infrastructure. Understand what you’re buying before the excitement of the moment drives the decision.

The Bottom Line

The window between now and the June 4–8 roadshow is your preparation time. Check your eligibility at whichever listed brokerage you use, fund your account if needed, and get familiar with the IOI process at your platform. Demand is expected to far exceed supply — allocations will likely be small even for qualifying accounts — but getting in at the IPO price on what could be the largest IPO in history is an opportunity worth preparing for properly.

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Sources verified at publish time. Spotted an inaccuracy? Email editorial@basenor.com.