The SpaceX IPO: Opportunity or Overvalued?
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What is the significance of the SpaceX IPO for retail investors?
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Welcome to Merrin Talks Your Money, the personal finance edition of Merrin Talks Money. In these bonus podcasts, we talk about the best strategies for making the most of your money. I'm Merrin Zumset-Webb, Bloomberg UK Money Editor-at-Large, and with me today is Anna MacDonald, Investment Strategy Director at Hargreaves Lansdowne. Welcome, Anna. Thank you very much for having me, Merrin. It's a pleasure. We haven't had you on for a while, but regular listeners will know that you have been frequently on and also have appeared at our Friends show. And anyone who's listened to those recordings will know that Anna is expert on almost everything. But today we're going to go, we're just going to talk about one small thing or rather one absolutely huge thing.
I've asked you on how to talk about the SpaceX IPO and what it really means for ordinary investors who an awful lot of them have had a go at getting a piece of this largest IPO ever, right? I mean, I've heard from It's some of the retail platforms that they've seen multiples of the level of applications they have ever seen for an IPO before. Have you seen the same at Hargreaves Lantern?
We absolutely have. We had 50,000 applications this time and the usual for an IPO is 1,500. So yes, that's quite a big jump up. Okay, interesting.
And were most people going for £1,000, £20,000, £50,000? What would it look like?
Anyone who applied, just to take you through, anyone who applied for up to 20 shares got their full fill. And we know that you got all your nine shares. I did get nine shares, I did. Yes, yes. And looking at our own clients, we see that 52%, so just over half, got over 100% of their allocation. So yes, those were at that kind of level, around the £2,000 level.
One of the things that is interesting to me is through which wrapper people have been buying SpaceX. So I saw from one of the platforms that the majority of people were buying inside their ices and inside their sips. It rather suggests that certainly if they're buying them inside their sips, they're not buying them to flip. Although possibly if you're buying them inside an icer, you might have thinking you can flip them very quickly and there's no capital gains to pay. Where were you seeing people buying in ordinary accounts for long-term wrappers or everything?
We're seeing it in everything, but our data shows about the same as that shape that you've just read out, you know, in terms of ISAs and SIPs being the main areas. So, yeah, I mean, I suppose, I mean, you can, you could buy and sell quite easily in a SIP. You could buy and sell quite easily on our platform. But what we're seeing is, I just got our dealers to check and we're not seeing a huge amount of SIPs. We're seeing a very, very large majority of our investors are still holding.
Okay, interesting. And in order to buy in the first place, do you think they sold other stuff? One of the things that we worried about a lot, not we, I say we, I mean the market in general worried about in the run-up to SpaceX was that people would take money out of, say, for example, some of the AI names or something like that.
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