Story
SpaceX Shares Attract Heavy Retail Buying After Post-Earnings Sell-Off
Retail investors aggressively bought into SpaceX on Wednesday, capitalizing on a significant stock decline that followed the company's inaugural earnings report since going public.
Dip-Buying Intensifies
In the first hour of trading alone, individual traders purchased a net $22.7 million in SpaceX shares, according to data from Vanda Research. This marked the third-highest first-hour buying total since the company's IPO. Vanda Research noted that the activity suggests retail investors have become "even more opportunistic" following the sell-off.
The financial data firm projected that Wednesday could become the second-largest day for net retail buying of SpaceX stock if the pace continued, surpassed only by the $144.6 million recorded on June 16. Impressively, SpaceX has not seen a single day of net retail selling since its historic initial public offering on June 12.
AdMarket Reaction to Earnings
The surge in retail interest came after SpaceX shares fell by as much as 12.9%. The drop was fueled by investor concerns over the company's costly artificial intelligence investments and how long its profitable Starlink satellite internet business could sustain that spending.
Despite the price drop, overall trading activity was exceptionally high. More than $10.5 billion worth of SpaceX shares were traded as of 11:47 a.m. ET, according to data compiled by LSEG. Vanda Research also reported that SpaceX was the most-purchased U.S. stock among retail investors on Wednesday, ahead of chipmaker Advanced Micro Devices (AMD), which also saw its shares decline after its earnings report.
Read next
More on Stocks
FTC Orders Walmart, Uber, Delta to Disclose Data on Personalized Pricing
The U.S. Federal Trade Commission is demanding nine major companies, including leading retail, travel, and gig economy firms, to provide information on how they use consumer data for setting individual prices and wages.
Google Launches Gemini 4 Carbon AI Model to Bolster Cybersecurity Capabilities
Alphabet's Google has unveiled Gemini 4 Carbon, its latest AI model specifically designed for advanced cybersecurity tasks like vulnerability detection and secure code generation. The launch escalates competition with rivals OpenAI and Anthropic in the enterprise AI market.
Oracle Shares Surge After Unveiling $225 Billion Revenue Target for 2030
Oracle stock rose sharply after the company presented a long-term financial outlook targeting at least $225 billion in annual revenue by fiscal 2030, driven by its expanding AI infrastructure business.
DOJ Scrutinizes Nvidia's $12.9B Hugging Face Deal Amid Broader Antitrust Probe, Sources Say
The U.S. Department of Justice is reportedly examining Nvidia's planned $12.93 billion acquisition of AI platform Hugging Face as part of a wider, ongoing antitrust investigation into the chipmaker's market conduct.