SpaceX Attracts Retail Buyers After Post-Earnings Share Slide
Retail traders bought a net $22.7 million in the first hour as SpaceX fell as much as 12.9% after its first public earnings report.
- On Wednesday, retail investors aggressively bought SpaceX shares, capitalizing on a sharp sell-off following the company's first-ever earnings report as a public company.
- Shares of the rockets-to-AI company dropped as much as 12.9% following the earnings report as investors grew concerned about SpaceX burning through $16 billion in cash in Q2, putting it on course to burn $50 billion this year.
- While SpaceX reported $7.8 billion in revenue, beating the $6.8 billion analysts projected, investors focused on negatives; Starlink sales grew less than 66% and AI sales surged 248% year over year without reaching profitability.
- Mom-and-Pop traders purchased a net $22.7 million in SpaceX shares during the first hour of trading, making SpaceX the most bought U.S. stock among retail investors, outpacing Advanced Micro Devices.
- Since its June 12 IPO, SpaceX has not recorded a single day of net retail selling; the listing remains the biggest in U.S. history at $135 per share.
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14 Articles
SpaceX draws retail investors despite fall in shares post earnings
Retail investors bought SpaceX shares on Wednesday after a significant price drop. Individual traders purchased over twenty-two million dollars worth of stock. This buying activity followed the company's first earnings report since its public debut. SpaceX shares experienced a notable decline, falling below one hundred ten dollars. The company reported increased AI revenue and new cloud agreements.
7 Wall Street analysts on why you should buy the post-earnings dip in SpaceX stock
Britta Pedersen-Pool/Getty ImagesSpaceX's post-earnings slump could present a major opportunity for investors to buy the dip.Wall Street analysts are sticking to their bullish forecasts for SpaceX as the stock tumbles. While capex is a concern, forecasters point to the firm's strong AI growth prospects.The market thrilled with SpaceX's first-ever earnings report — but big slide on Wednesday might be a buy-the-dip opportunity for investors based …
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