SpaceX targets a record $75 billion raise at $135 per share in its June 12 Nasdaq debut under ticker SPCX, more than double Saudi Aramco's prior mark.

Money Moves

• Banks roll out velvet-rope allocations for top clients ahead of the listing, underscoring how wealth management now drives deal flow more than traditional underwriting fees.
• Morningstar pegs fair value at $780 billion, 55% below the $1.75 trillion IPO valuation, warning investors to wait for...