Key Highlights

  • Retail investors bought a net 22.7 million dollars of SpaceX shares in the first hour of trading Wednesday, the third-highest first-hour total in the 37 trading sessions since the company's IPO.
  • SpaceX shares had dropped as much as 12.9% following the company's first earnings report as a public company, as investors grew concerned about how long its Starlink business could continue funding costly AI investments.
  • SpaceX has not recorded a day of net retail selling since its June 12 initial public offering, which was the largest in U.S. history at 135 dollars per share.
  • SpaceX was the most bought U.S. stock among retail investors on Wednesday, followed by chipmaker Advanced Micro Devices, whose shares fell 6.5% following its own quarterly earnings report.

Retail Investors Continue Buying Despite Earnings-Driven Selloff

Retail investors continued to pile into SpaceX shares on Wednesday, buying the dip after a sharp drop following the company's first earnings report as a public company. Mom-and-pop traders bought a net 22.7 million dollars in SpaceX shares in the first hour of trading alone, the third-highest first-hour total across the 37 trading sessions since the company went public, according to Vanda Research data. The firm said the pace of buying suggested retail dip-buying has become more opportunistic rather than more cautious following the earnings-driven selloff, and that Wednesday could become the second-biggest day for retail net buying since SpaceX's listing if the pace held, trailing only June 16.

Shares Fell Sharply as Investors Weighed AI Spending Concerns

SpaceX shares dropped as much as 12.9% following the earnings report, as investors grew concerned about how long the company's profitable Starlink satellite internet business could continue funding its costly artificial intelligence investments. Overall trading was robust, with more than 10.5 billion dollars worth of SpaceX shares changing hands as of late morning trading. SpaceX has not recorded a single day of net retail selling since its June 12 initial public offering, which stood as the largest IPO in U.S. history at 135 dollars per share.

AMD Also Draws Retail Interest Following Its Own Earnings Decline

SpaceX was the most bought U.S. stock among retail investors on Wednesday, according to Vanda Research, followed by chipmaker Advanced Micro Devices. AMD shares were last down 6.5% following its own quarterly earnings report, despite the company posting results that topped consensus estimates. The parallel retail interest in both stocks suggests individual investors continued treating post-earnings declines in AI-linked names as buying opportunities, even as larger institutional investors appeared more focused on the sustainability of AI-related capital spending across both companies.

Conclusion

The continued retail buying in SpaceX shares despite a sharp post-earnings decline illustrates the persistence of dip-buying behavior among individual investors even as questions mount over the pace and sustainability of AI-related spending. While retail flows remain small relative to SpaceX's overall trading volume, they may continue to provide a modest stabilizing influence during periods of institutional selling. The broader question of how Starlink's profitability will support SpaceX's AI ambitions is likely to remain a central focus for investors in the coming quarters.