Retail investors have wasted no time jumping aboard the rocketship that is the newly public SpaceX (SPCX) stock.
SpaceX topped the leaderboard as the most bought stock by retail investors for a second consecutive session on Monday, with net buying of around $100 million for the second day in a row, according to data from Vanda Research
On a net basis, retail investors have now bought almost as much SpaceX stock over the last two sessions as they bought across the entire US stock market last week. “SpaceX has not sparked a retail buying frenzy across the market. Instead, retail investors continue to direct capital into this one name, while maintaining a relatively cautious stance elsewhere,” the strategists at the research firm said. The Elon Musk-led rocket company officially priced its stock at $135 on June 11, offering 555.6 million shares.
The pricing valued SpaceX at $1.78 trillion. SpaceX stock rose another 11% to $178 on Monday in its second day of trading. Shares are up another 10% in premarket trading on Tuesday, indicating an open to above $200 for the first time.