Retail Investors Buy $22.7 Million of SpaceX as 912 Million Shares Near Lockup Release
Updated
Updated · Yahoo Finance · Aug 6
Retail Investors Buy $22.7 Million of SpaceX as 912 Million Shares Near Lockup Release
1 articles · Updated · Yahoo Finance · Aug 6
Summary
$22.7 million of net retail buying hit SpaceX in Wednesday's first trading hour, more than triple its average opening inflow and the third-largest such haul in 37 sessions.
That demand came even after SpaceX fell below its $135 IPO price, with Vanda saying individuals still view the company as a transformational AI play with 10-bagger potential.
SpaceX's first earnings report gave bulls and bears ammunition: revenue and adjusted profit beat expectations, but nearly $16 billion in quarterly AI and data-center spending highlighted the cost of expansion.
Thursday now brings a bigger test, with up to 912 million employee and pre-IPO shares becoming eligible for sale in the first major lockup expiry, potentially more than doubling the public float.