Investors will only need $2,000 in their Fidelity accounts to be eligible to buy into the SpaceX IPO.

Investors will only need $2,000 in their Fidelity accounts to be eligible to buy into the SpaceX IPO. The reduced account minimum will allow more retail traders access to the historic IPO. Analysts have said heightened retail participation could make the IPO more volatile. You might be able to buy into SpaceX's public debut more easily thanks to changes around one major brokerage's account minimums. Retail investors have to have $2,000 in their brokerage account for the opportunity to access SpaceX shares at its IPO through Fidelity. That marks a major shift from previous rules around IPO participation where investors needed to have as much as $500,000 or in assets depending on the IPO. "The SpaceX IPO may be available to Fidelity customers with as little as $2,000 in a retail brokerage account, lower than typical IPO requirements due to increased share availability," the brokerage outlined. The firm does have guidelines around flipping—orselling the shares in the first 15 days from the the start of trading— which could negatively impacting investors' ability to participate in future IPOs. Behind the change is SpaceX's decision to allocate a larger amount of shares in its public trading debut to retail investors than other IPOs. Generally, companies allocate 5% to 10% of shares offered to retail investors. Space X is offering up to 30% at the IPO price. Fidelity explained the increased availability of shares for retail clients drove their decision to significantly reduce their account minimum for the IPO. Fidelity customers that meet the eligibility requirements can fill out an indication of interest (IOI) form and request anywhere between one and one million shares. The brokerage, like others, will use a lottery system to determine which customers get access to the shares as retail demand for SpaceX stock is expected to outpace supply. SpaceX has shouted out retail investors ahead of the IPO, aiming to make it easier for them to get in at the initial offering price, which is usually something reserved for institutional buyers. "Retail investor participation is important to SpaceX," the FAQ section of the company's IPO webpage reads. Heightened retail participation could fuel more volatile trading in SpaceX stock, analysts say. Concern has grown that retail investors could be overexposed to the stock, as it is likely to be added to major indexes faster than usual, forcing funds and ETFs to become buyers. Some critics have also blasted moves by major index providers to speed up SpaceX's inclusion into the index. "The rules are being rewritten to benefit IPO issuers and early-stage insiders," Wall Street veteran and longtime Fidelity fund manager George Noble said. Read the original article on Business Insider

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