CommSec’s SpaceX bid shows what retail investors really want

Elon Musk’s space company just shattered records to become the biggest float in the broker’s 30-year history as Australian investors went on the hunt for sizzle.

CommSec had four times as many customers bid for SpaceX shares than for any float in its 30-year history.

Our biggest retail broker’s biggest float ever was a growth company with no ASX listing, in a foreign currency, with zero management presentations or formal marketing, no fundamental valuation support, no certainty about its future revenue or even products, no dividends and a short settlement period. It’s phenomenal.

Source: https://www.afr.com/chanticleer/commsec-s-spacex-bid-shows-what-retail-investors-really-want-20260617-p607hz