SpaceX IPO Allocation Shortfalls Spark Profit-Taking; DXYZ, NASA, VCX Fall Overnight

Shares of Destiny Tech100 (DXYZ), the Tema Space Innovators ETF (NASA), and the Fundrise Innovation Fund (VCX) slipped overnight as retail investors frustrated by minimal IPO share allocations rushed to take profits after SpaceX (SPCX) surged 20% Monday, lifting the company's market cap above $2.5 trillion. VCX fell 15%, while DXYZ gained 3% and NASA rose 2%.

SpaceX allocated just 20% of IPO shares to retail investors globally, but demand exceeded $100 billion, leaving many with far fewer shares than requested. Robinhood said all 855,424 customers who requested stock received shares, though individual allocations ranged from single digits to hundreds depending on order size.