In the past five years, 70% of large IPOs have underperformed the market: SpaceX, with a sky-high valuation of $1.75 trillion, is coming, retail investors need to beware of the risk of "catching falling knives".

The Zhitong Finance App noted that Wall Street is excited about the upcoming listing of Elon Musk's rocket and satellite manufacturing company SpaceX next month, but in recent years, few investors have made money from buying into new stocks during the biggest IPOs.