SpaceX IPO Draws $117M Retail Inflows on First Day, Accounting for 56% of Daily Equity Volume

According to Vanda Research, SpaceX drew $117 million in net retail buying on its IPO debut Friday, representing 56% of total daily individual stock purchases. The strong retail appetite marked what analysts describe as the clearest signal yet of a market shift from the "Magnificent Seven" era to what Vanda calls "FAB 10" (Frontier AI & Big Tech 10)—the original seven tech giants plus SpaceX, OpenAI, and Anthropic.

Public's co-CEO Leif Abraham said SpaceX's trading volume exceeded Nvidia by 533%, and when combined, exceeded Apple, Microsoft, Tesla, Meta, and Google combined. Retail investors ultimately received roughly 20% of the $75 billion IPO allocation, above typical levels, while long-term institutional investors secured 70%.