SpaceX shares have attracted retail buyers after a sharp drop following the company’s first earnings report as a public company. According to Vanda Research data, mom-and-pop traders bought a net $22.7 million in SpaceX shares in the first hour of trading alone.
Investor Interest
The financial data firm said Wednesday could become the second-biggest day for retail net buying since listing if the pace holds, behind only June 16, when net buying stood at $144.6 million. SpaceX has not recorded a day of net retail selling since its June 12 IPO, the biggest in U.S. history at $135 per share.
Shares of the rockets-to-AI company dropped as much as 12.9% following its earnings report as investors grew concerned about how long its profitable Starlink business could continue to bankroll costly AI investments. Overall trading was robust, with more than $10.5 billion worth of SpaceX shares changing hands as of 11:47 a.m. ET, according to LSEG-compiled data.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
