I can't get IPOs in my Interactive Brokers account. And I don't have millions of dollars with Goldman Sachs or Morgan Stanley. But apparently if you have at least $500k with Fidelity, you can get IPOs with them. I have a few Fidelity accounts, but most of my money is not with them.
My dad and grandpa have been following my picks for a year or two now (mostly SAAS stocks, with a few other tech stocks thrown in). They have a good bit of money in their Fidelity accounts. I know about Affirm through buying my wife's iPhone and Peloton from it (don't worry, I don't go into debt because I can't afford it, they just offered me 0% interest so why not). It was a very quick, seamless, painless process to get 0% financing for an online purchase. I like the product a lot, and most debt loving Americans will love it even more.
I did my due diligence, they are growing quickly and the Afterpay foreign competitor stock has done really well the past few years. I expect this IPO to be pretty hot, in a hot IPO market, and anyone getting in at the IPO price I would expect to do well.
My dad got approved for $80k worth, grandpa put in for $100k and was approved as well. They get assigned tonight as long as they do everything correctly, so let's see how it turns out when Affirm starts trading for the retail crowd tomorrow.
IPO pricing was in the mid $30s, now it seems mid $40s, and I'd be surprised if it starts trading less than $60-80 tomorrow.
Risk is Affirm pulled their IPO in December after the AirBNB IPO popped like crazy. Perhaps they got greedy and wanted to re-price their IPO at nosebleed levels.
Let's see how it turns out.