SpaceX shares slip nearly 13% as retail investors buy
Business
SpaceX stock slid nearly 13% on Wednesday, dropping below $110 after its first earnings report since going public in June.
Still, everyday investors jumped in, buying a net $22.7 million worth of shares just in the first hour, according to Vanda Research.
Retail investors unfazed by Starlink costs
Despite worries about whether Starlink's profits can keep up with rising costs, including a huge $15.8 billion spent on AI this quarter, retail investor interest stayed strong.
Vanda Research even thinks this could be the second-biggest day for retail buying since SpaceX's IPO, showing that retail investors aren't losing faith yet.