Elon Musk's SpaceX hasn't started trading yet, and it is already pulling cash out of the chip stocks retail traders spent the spring chasing.
The do-it-yourself crowd has been trimming semiconductor exposure and skipping dips elsewhere, according to Vanda Research.
Some analysts read the selling as retail gathering dry powder for the SpaceX debut, expected Friday.
Retail Hasn't Sold Like This Since 2020 Non-professional traders sold individual stocks for three straight days through Wednesday, the first such streak since March 2020, Vanda's data show.
Monday brought the largest retail cash pull from single names since November 2023.
