FYI for retail investors: If you plan to submit an indication of interest (or COTP) for SpaceX IPO shares, it's a good idea to review your brokerage's IPO flipping policy. I found some of the brokerage policies:
Robinhood:
"You can sell the shares you received through IPO access at any point in time. However, if you sell IPO shares within 30 days of the IPO, it's considered flipping and you may be prevented from participating in IPO access for 60 days. This policy applies to all IPOs offered with IPO access."
More info: https://t.co/i7UoqeW33J
Charles Schwab:
"You are free to sell shares purchased in a public offering at any time, subject to applicable law, market rules, account restrictions, and the terms of the applicable offering. For some public offerings, selling shares within a specified period after allocation may result in restrictions on your ability to participate in future public offerings through Schwab. The applicable restricted period, duration of any participation restriction, and other consequences may vary by offering and will be disclosed through the IPO Site or other offering-related materials, including the applicable registration statement. By placing or affirming a COTP for an offering subject to an anti-flipping policy, you agree to the anti-flipping policy disclosed for that offering." The restriction for a first time flipper is often 6 months, but check directly with Schwab to confirm.
More info: https://t.co/ZInVaBcEhy
Fidelity:
"As with any investment, you are free to sell the securities obtained during an IPO whenever you determine it is appropriate for you. However, 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
The first day clients can sell without being labeled a flipper is the 16th calendar day after the IPO trades."
More info: https://t.co/KuD0F1OIWT
Sofi:
"Members are able to sell securities obtained during an IPO whenever they would like. SoFi does not restrict the sale of securities on the secondary market. However, if a member sells within the first 30 calendar days post-IPO, that member will be limited in their ability to participate in future IPOs through SoFi for a defined period of time as outlined below:
Members who have obtained shares/units of an IPO through SoFi and sell within the first 30 days post-IPO are considered “flippers” and may be prevented from participating in future IPOs for 180 days upon a first violation, 365 days upon a second violation, and permanently in the event of a third violation.
In addition, SoFi may charge a $50 fee for the sales of securities obtained through the IPO process if the sales take place prior to the 120th day of trading. This fee will step down to $5 for each subsequent sale that takes place prior to the first 120 calendar days of trading."
More info: https://t.co/bDBt3DKeuq
E*Trade:
"E*TRADE may flag your account and restrict you from participating in future IPOs for a set period."
More info: https://t.co/x72mRBLG5u
NOTE: There could be special rules in place at your brokerage for the SpaceX IPO, so reach out to them directly to confirm what the IPO policies are.
@RobinhoodApp Entered at 8:30 PM EST plus 01 second. Entered cart with 5 minute in line wait to checkout. After 5 minutes auto refreshed, emptied my cart, showed sold out and showed a button to return to store. Bummer. Congrats to the 500 that got to checkout.
We're going around the Moon. Come watch with us. Artemis II's four-astronaut crew is lifting off from @NASAKennedy on an approximately 10-day mission that will bring us closer to living on the Moon and Mars. The launch window opens at 6:24pm ET (2224 UTC). https://t.co/X27QJejNDt
The 20 millionth Bitcoin was mined yesterday. Now there are only one million new Bitcoins to be mined, which will take over 100 years.
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On Friday, we rang the Opening Bell at the @NYSE.
As companies stay private longer, the landscape of growth is evolving with them. Robinhood Ventures Fund I is built on a simple idea: access to financial opportunity should evolve too.
Proud of the Robinhood Ventures team, and everyone who made this happen.
User accidentally gains control of over 6,700 robot vacuums while tinkering with their own device to enable control with a PlayStation controller — security flaw reveals floor plans and live video feeds https://t.co/lf2M5LE2Ad
New version of Cybertruck now available to order in the US
This is our most affordable Cybertruck yet.
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I was inspired by this so I wanted to see if Claude Code can get into my Lutron home automation system.
- it found my Lutron controllers on the local wifi network
- checked for open ports, connected, got some metadata and identified the devices and their firmware
- searched the internet, found the pdf for my system
- instructed me on what button to press to pair and get the certificates
- it connected to the system and found all the home devices (lights, shades, HVAC temperature control, motion sensors etc.)
- it turned on and off my kitchen lights to check that things are working (lol!)
I am now vibe coding the home automation master command center, the potential is 🔥.And I'm throwing away the crappy, janky, slow Lutron iOS app I've been using so far. Insanely fun :D :D
HEADS UP HOUSTONIANS:
A federal appeals court ruled the U.S. government is liable for Hurricane Harvey's flood damage to homes located upstream of Houston's Addicks & Barker dams in 2017.
There are a few more legal hoops to jump through but relief is now closer than ever.