South Korean retail investors poured nearly $800 million into SpaceX debut
Business
South Korean retail investors just poured nearly $800 million into SpaceX shares on their first trading day, more than what they put into any other US stocks in the past three months.
This massive move highlights just how much they're backing Elon Musk's companies.
SpaceX valuation jumps amid access probe
SpaceX shares shot up 49% at launch, pushing its value to a staggering $2.65 trillion (even edging out Amazon).
But unlike Japan and Australia, South Korean retail investors couldn't get direct IPO access, sparking an investigation after Mirae Asset Securities Co., one of the IPO's underwriters, had offered access to the stock to select investors in the IPO but ultimately received no shares.
Still, South Korean retail investors have shown strong demand for SpaceX shares.