Retail Investors Pile $22.7M Into SpaceX in First Hour, Extending Dip-Buying Streak
SPCX is trading near its 52-week low of $104.83 (9.1% above the low).
Summary
Retail traders bought a net $22.7 million of SpaceX shares in the first hour on Wednesday, the third-highest first-hour total since the June 12 IPO. This follows a 12.9% post-earnings plunge driven by AI capex concerns. The pace suggests Wednesday could be the second-biggest retail buying day on record, behind only June 16's $144.6 million. SpaceX has yet to see a single day of net retail selling since going public. Overall volume topped $10.5 billion by midday, with SpaceX the most-bought stock among retail investors, ahead of AMD. The sustained dip-buying signals strong retail conviction despite the capex overhang.
At the time of this announcement, SPCX was trading at $114.33 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.5T. The 52-week trading range was $104.83 to $225.64. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.