Fidelity says poorer people can access more IPOs
Photo: Protos
Fidelity, the largest stock brokerage in the US, has slashed IPO qualification minimums for its customers by at least 75% and up to 95% for certain offerings. This push to funnel poorer investors into public offerings follows a September in which just five US IPOs raised a paltry $1.9 billion, the slowest US IPO month since March. In fact, across all US IPOs this year, the equal-weighted average return since each offer price is negative .
Source: Protos
