SpaceX IPO Draws Over $100 Billion in Retail Orders Amid Broader Tech Selloff

According to Bloomberg, retail investors submitted more than $100 billion in purchase orders for SpaceX shares during its record-breaking IPO on Wednesday, significantly exceeding available supply. The same day, Vanda Research noted that retail traders were on track for their third consecutive day of net selling in single stocks, a pattern unseen since March 2020. JPMorgan analyst Arun Jain observed that retail investors appear to be cutting losses amid tech weakness rather than liquidating positions to raise cash for anticipated offerings from Anthropic and OpenAI.
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