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Fidelity warning us not to paper-hand the SpaceX IPO. 3 quick flips and your SSN is permanently banned from future IPOs
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Fidelity warns investors that selling allocated SpaceX IPO shares within 15 days will result in escalating bans from future IPOs.
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Just stumbled across this on the Fidelity site.
https://www.fidelity.com/learning-center/trading-investing/spacex-ipo-explained
“if you are allocated shares of SpaceX and you sell within the first 15 calendar days from the start of trading in the secondary market, it will affect your ability to participate in future new issue equity public offerings through Fidelity for a defined period of time. The defined period is as follows:
First Flip – Blocked for 6 months
Second Flip – Blocked for 1 year
Third Flip – Permanently banned by your SSN”
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