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Retail investors sold SpaceX shares for first time on Friday
['Shashwat Chauhan', 'Mon', 'August', 'At Am Gmt', 'Min Read']
Yahoo Finance
By Shashwat ChauhanAug 10 (Reuters) - Retail investors who spent weeks defending SpaceX through its post-IPO run turned net sellers on Friday, marking the first such instance since the company's blockbuster debut in June.
"Friday is particularly interesting because retail turned net sellers while the shares were rebounding strongly and trading back around the IPO price.
This comes just days after individual investors "bought the dip" as shares slumped 13.6% on August 5, when retail net-buying was the fourth-highest since the company's June debut.
Despite the recent jump, its shares have closed below the IPO price every day since July 16.
Liquidity conditions have also shifted as the number of SpaceX shares available for public trading more than doubled following the expiry of the first of several lockup restrictions last week.