SpaceX cuts retail IPO allocation to low 20% range, source says

SpaceX is allocating a smaller-than-expected portion of its blockbuster initial public offering to retail investors, according to a person familiar with the matter. The Elon Musk -led company plans to direct a percentage in the low 20s of the offering to retail buyers, including international individual investors, online brokerages and private-bank clients, the person said. The allocation is below earlier expectations that roughly 30% of the deal would be reserved for retail investors. …