SpaceX just pulled off something that even Apple and Nvidia would envy. On its inaugural trading day, the Elon Musk-led rocket company attracted $117 million in net retail buying, according to Vanda Research. That single stock accounted for 56% of all US retail stock purchases that day.
The numbers behind the frenzy
SpaceX has filed confidentially for an IPO with terms set at $135 per share. The company is seeking to raise nearly $75 billion at a valuation of roughly $1.75 trillion.
CNBC described “a rush of retail traders” requesting allocation to SpaceX stock, with demand appearing largely driven by fear of missing out rather than careful fundamental analysis.
Vanda Research has proposed an entirely new market category to capture what’s happening. They’re calling it the “FAB 10,” short for Frontier AI and Big Tech 10. The framework expands beyond the familiar Magnificent Seven, which includes Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla, to incorporate SpaceX, OpenAI, and Anthropic as the next wave of transformative technology leaders.
