Wall Street rises as materials and crypto stocks offset continued bond sell-off
Investing.com -- Retail investors sold SpaceX stock on a net basis Friday for the first time since the company's June initial public offering, according to Vanda Research data.
Individual traders offloaded a net $4.5 million worth of shares in Elon Musk's rocket company on August 7. The figure marks the first negative reading since SpaceX went public on June 12.
Get instant alerts on market-moving headlines with InvestingPro — now 55% off.
The selling remains small compared to the stock's previous trading activity. The largest single-day net purchase by retail investors reached $144.6 million on June 16.
Friday's reversal follows a brief return to buying just two days earlier. On August 5, retail investors purchased shares as the stock fell 13.6%, recording the fourth-highest net buying day since the IPO.
The August 5 decline came after SpaceX released its first quarterly earnings report as a public company. The report highlighted faster returns from artificial intelligence spending, though questions persisted about the duration of support from its profitable Starlink business for AI investments.
SpaceX shares initially jumped as much as 67% above the $135 IPO price in June. The stock has since erased those gains and fallen more than 22% below the debut price in August.
Shares have traded below the IPO price every day since July 16. The stock rose 2.5% in premarket trading Monday.
