Brokers impose 15–30 day SpaceX IPO flip bans on retail investors as big funds trade freely

Several brokerages are barring retail investors who received SpaceX IPO shares from selling for 15–30 days, with penalties ranging from restrictions on future IPO access to permanent account bans. Hedge funds and asset managers including BlackRock and Citadel can receive allocations without flipping limits and in some cases sell immediately to capture the initial “IPO pop.” Retail investors took 20% of the offering, while long-term institutional holders received 70%. SpaceX shares ended their first session up 19% at $160.95, and major indexes may add the stock within two weeks, potentially prompting passive fund buying.