Corrie Driebusch
speaker
416 appearances
8 recordings
1 series
first heard Oct 2018
last heard Oct 2024
Corrie Driebusch’s voice in public audio — every appearance, attributed to the second.
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Appearances
And Robinhood famously rolled this out right before its own IPO and then offered in its IPO, they said they were going to offer up to 35% of the stock of their offering to individual investors.
In the end, up to 25% actually went to individual investors.
But as I said, for years, less than 10% was going to individual investors.
So that's significantly more.
Let's take Rivian, for example, Rivian Automotive, the biggest IPO of the year.
It just happened earlier this month.
A lot of people wanted to buy that stock because they understand electric vehicles.
That's the hot thing.
Look at Tesla's stock and how that's performed over the years since its IPO.
And Rivian has made a lot of big promises about they're doing electric trucks and SUVs.
So if you wanted to buy that stock, Rivian made it available to individuals a couple different ways.
The first way was anyone who had pre-ordered an electric truck or SUV would
was given the option you can sign up with Morgan Stanley, the Morgan Stanley brokerage, the bank that happened to be leading the IPO, and say you can individually sign up and put in an order for up to 175 shares in the IPO.
So an individual investor could have done it that way.
Rivian also decided to open up access even more.
They would make available a certain percentage of shares through SoFi, the brokerage.
So anyone, even if you had never pre-ordered a car, you could sign up through your SoFi account and request a certain number of shares.
You might not get them all.
And most individual investors I talked to around that IPO didn't get as many as they wanted, but they got some, which again is unusual.
You wouldn't have seen that happen a few years ago.
Showing 61–80 of 416 · page 4 of 21
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