SpaceX records 1st net retail outflows since June 12 IPO
For the first time since SpaceX's June 12 IPO, retail investors are net sellers instead of buyers.
Vanda Research says $4.5 million in net retail sales happened as the stock was rebounding strongly and trading back around the IPO price of $135.
Market analyst Sam North of eToro thinks this is more about people locking in profits and getting tired, not panic-selling.
SpaceX trending on Stocktwits and Reddit
Just last week, retail traders jumped in to "bought the dip" after a 13.6% drop, one of the biggest buying days since launch.
Even with recent selling, SpaceX is still trending on Stocktwits and Reddit's r/WallStreetBets, showing that retail investors are keeping a close eye on it.
The stock has slipped more than 22% below its debut price in August, and some worry about how long its profitable Starlink business would bankroll costly AI investments and more shares hitting the market after a lockup expired.