Shiny new toy: Retail traders are dumping AI favorites for SpaceX

Retail traders are selling AI favorites and piling up cash ahead of SpaceX and other mega-IPOs

Patrick T. Fallon / AFP via Getty ImagesRetail traders are building up their cash piles in anticipation of SpaceX and other mega-offerings. Data from Vanda Research suggests they're selling old favorites to get in position to buy new IPOs. Retail traders were net sellers three days in a row this week, the first time Vanda has seen that since 2020. The SpaceX IPO will offer more shares than usual to the retail crowd, and it looks like they're get…

Shiny new toy: Retail traders are dumping AI favorites for SpaceX

Individual investors have dumped stocks including Micron, Advanced Micro Devices and Marvell.

Retail traders dump Big Tech to raise ‘dry powder’ to buy SpaceX

Retail traders’ infatuation with high-flying computer memory and storage companies is fading now that the next big thing - SpaceX’s initial public offering - is on the way.