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SpaceX shares are now trading, opening what strategists are calling a trillion-dollar IPO era.
Elon Musk's company released only about 5% of its shares to the market, a smaller float than the typical 10%-20% offered in a standard IPO.
The limited supply has implications for both how the stock trades and how the company's headline valuation should be read.
Why a Small Float Matters A float this thin means the widely cited figures for SpaceX's valuation and Musk's wealth are largely on paper for now.
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