Can anyone explain the difference between what sofi is doing with ipos for retail investors vs fidelity, webull, etc. I know Fidelity requires a 275K minimum but SoFi isn’t the underwriter right? They’re just partnering with underwriters (ib syndicates) to issue shares to retail investors at ipo price? Not sure why it’s big news

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It might come down to the companies they’re underwriting. Is it going to be names like SNOW, ASO, and DKNG that people actually want?

Or will it be tiny companies that are already priced at 40x sales who hope to show breakeven cash flow in 5 years?

Thanks. Guess it doesn’t matter if the lead left or lead advisors set the price sofi would only get an allocation of shares and the company still gets their money

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