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SMALL-CAP MOVERS: AIM suffers as Musk's magnet pulls £270m from Britain
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SMALL-CAP MOVERS: AIM suffers as Musk's magnet pulls £270m from Britain Proactive uses images sourced from ShutterstockThe record SpaceX flotation on the Nasdaq has pulled an estimated £270 million of British retail money across the Atlantic, and London's junior market has felt the drain.
While the AIM All-Share Index has dropped around 2.4% since the world's largest IPO, the underlying numbers look even more stark.
Traded volume appears to have dropped around 13-14% since the 12 June listing, compared with the same stretch last year.
Musk's rocket and satellite company priced the largest IPO in history and reserved an unusually large slice of shares for ordinary investors.
Over the past week the trend has continued, with the AIM All-Share down 0.6% on thin volume.