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Retail investors became net sellers of SpaceX shares on Friday
Mom-and-pop traders sold a net $4.5 million of SpaceX stock on August 7, the first time since the June IPO that retail flows went negative.
Retail investors who had defended SpaceX in the weeks after its IPO shifted to net selling on Friday, marking the first negative retail flow since the company’s June 12 debut, according to Vanda Research data cited by Reuters.
Data showed mom-and-pop traders sold a net $4.5 million in SpaceX on August 7, after earlier periods of persistent net buying. Analyst Sam North at etoro said the reversal is often a mix of profit-taking, position fatigue, and investors reassessing the risk-reward, adding that Friday looked more like selling into strength as shares rebounded toward the IPO level rather than panic.
SpaceX’s stock has been volatile since its public debut. After surging as much as 67% above its $135 IPO price in June, it later gave back gains and fell more than 22% below its debut price in August, with shares closing below the IPO price every day since July 16.
The flow shift comes days after retail “bought the dip” when shares slumped 13.6% on August 5. Reuters noted the selloff followed SpaceX’s first quarterly earnings report as a public company, where it highlighted faster returns from AI spending, while investors still questioned how long profitable Starlink can fund the cost of AI investments. Liquidity has also changed, with the number of shares available for public trading more than doubling after the expiry of the first lockup restriction last week.