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Retail investors buy SpaceX shares every day since IPO
On Wednesday, individual investors bought a net $22.7 million in the first hour, while no day of net retail selling has been recorded since the June 12 debut.
Yahoo Finance data cited by Vanda Research shows retail investors have bought SpaceX shares every day since the company went public on June 12.
According to Vanda Research, individual investors purchased a net $22.7 million of SpaceX stock during the first hour of trading on Wednesday, more than three times the stock's average opening-hour inflow and the third-largest opening-hour haul across 37 trading sessions. Wednesday also extended an unbroken streak with no recorded day of net retail selling since the IPO, the outlet reported.
The article notes that retail buying cooled after the initial surge, with $405 million purchased over the first five sessions compared with $103 million over the five sessions leading into earnings, but retail investors still did not become net sellers.
Yahoo Finance adds that SpaceX has fallen from its June 16 intraday high of $225.64, after having traded above the IPO price of $135, and that a major lockup begins to unwind Thursday as as many as 912 million shares held by employees and other pre-IPO investors become eligible for sale. The expiration removes restrictions for eligible holders but does not force sales, potentially increasing the amount of stock available for trading.