South Korean Retail Investors Snap Up $796 Million of SpaceX on Trading Debut
Updated
Updated · Bloomberg · Jun 17
South Korean Retail Investors Snap Up $796 Million of SpaceX on Trading Debut
3 articles · Updated · Bloomberg · Jun 17
Summary
$796 million of net SpaceX purchases by South Korean retail investors on Friday made the stock the most popular US name among the country’s more than 14 million individual investors.
That first-day total nearly matched Bloomberg’s roughly $800 million estimate and exceeded the cumulative net purchases of any other US equity over the past three months, Korea Securities Depository data showed.
The surge underscored pent-up local demand for Elon Musk’s rocket and artificial intelligence company after South Korean investors were shut out of what the report described as the world’s largest initial public offering.