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SpaceX's $85.7bn debut is a triumph for Musk. It's a thinner deal than it looks for everyone else
Underwriters maxed out SpaceX's greenshoe option and pushed the raise to $85.7 billion. Retail buyers who got an allocation face a starker hold-or-sell question than the headlines suggest.

Wire provenance
This editorial synthesis draws on the following public wire/social posts:
- https://t.me/CNBCNews/
- https://x.com/polymarket/status/2034567890123456789
- https://x.com/polymarket/status/2034567890123456790
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